[2015-07-22] Two Florida men being charged with running illegal bitcoin exchange

[tyz]

Bitcoin is generally considered legal in the United States, and has been recognized by courts as something of value, and thus worthy of legal protections. While bitcoin is legal, there are certain rules you have to follow when dealing with the currency.

https://99bitcoins.com/two-florida-men-being-charged-with-running-illegal-bitcoin-exchange/

[milaliss]

Two Florida men have been arrested for operating unlicensed bitcoin exchange Coin.mx...
Coin.mx has operated since 2013. It allowed users to buy bitcoins using credit or debit card with a 3.5% fee. According to the FBI, between October 2013 and January 2015 tens of thousands of customers make use of Coin.mx services exchanging at least $1.8 million for bitcoins. Among the exchange’s clients were people allegedly engaged in criminal activity and victims of bitcoin ransomeware CryptoWall who bought digital currency to pay their attackers. The legal status of Coin.mx has long been discussed by bitcoin community. Some people voiced their concerns the scheme bore the marks of a scam.According to bitcoiners who shared their experience with Coin.mx, their credit cards were charged from Baku, Azerbaijan though the company declared to be Florida-based. These operations were disguised as purchasing of kid toys.