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Author Topic: [2018-06-11] LA Bitcoin Trader Faces 30 Months in Jail for Illegal Money Busines  (Read 17 times)
BitcoinArsenal
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June 11, 2018, 05:26:33 PM
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A Los Angeles bitcoin trader faces more than two years in jail for having operated what prosecutors say is an illegal money transmitting business. Full article on Coindesk

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June 11, 2018, 07:31:31 PM
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A Los Angeles bitcoin trader faces more than two years in jail for having operated what prosecutors say is an illegal money transmitting business. Full article on Coindesk



Well, if you are going to be transacting on localbitcoins while residing in the US, one has to make himself informed of the laws. I'm pretty much sure she was aware of the regulatory laws especially when it involved transacting more than $50000 to one person within 24 hours. FINCEN considers such action as a violation and she has to pay for it.
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June 11, 2018, 08:42:12 PM
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A Los Angeles bitcoin trader faces more than two years in jail for having operated what prosecutors say is an illegal money transmitting business. Full article on Coindesk



Well, if you are going to be transacting on localbitcoins while residing in the US, one has to make himself informed of the laws. I'm pretty much sure she was aware of the regulatory laws especially when it involved transacting more than $50000 to one person within 24 hours. FINCEN considers such action as a violation and she has to pay for it.
Definitely right. If you do make transactions specially on larger scales and you are fully aware on the current situation of law or regulation on where you do live then you do know on whats the risk behind it if you do tend to keep it secret or you didnt pronounce such thing. Once caught then expect the consequences. Its normal i guess for someone to face charges if you do break rules.
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