Re: Americans jail a 24 year old for selling bitcoins wthout asking for ID
Then if this is how America is be careful....you might be next.
Of course after they get rid of the thousands that have made money and nobody has bothered them....yet
But probably those ones are part of the Illuminati...
One example of one trader breaking the law, and we have a whole conspiracy of the Illuminati in the Gubbermint of the USA rubbing our everyone making money out of crypto...legit
Yes, I am very careful. Because if they decide they want my money they will come take it, just like Civil Forfeiture. Of course after they get rid of the thousands that have made money and nobody has bothered them....yet
But probably those ones are part of the Illuminati...
One example of one trader breaking the law, and we have a whole conspiracy of the Illuminati in the Gubbermint of the USA rubbing our everyone making money out of crypto...legit
And that's not what I said and you know it. But I can see this is pointless since you're just here to fly your flag and pretend our government is totally innocent and righteous
At least make your mind.Who sent this guy to jail?
a) americans
b) the court
And from where did you get the idea of me protecting the government and all the agencies?
This is the whole idea why I'm against this stupid title.
It's not the common american that jailed this guy.
It was not a referendum and the whole population asked for capital punishment.
this may be hard for you to understand but not everyone wants to live in America. Calling out Pakistan guy ? I think he is in a better place regarding crypto than you.
Hilarious:
Quote
FIA Recommends Govt to Declare Bitcoins Illegal in Pakistan
https://propakistani.pk/2018/02/06/fia-recommends-govt-declare-bitcoins-illegal-pakistan/Since I can also follow the trends here that Americans are to blame for what their government agencies are doing...I could easily create a thread :
"Pakistani people want to declare bitcoin illegal ".
How does this sound?
That is just a recommendation, it may or may not be in effect later but currently its unregulated.
I don't see why are you so offended, yeah the guys who sent him in jail are Americans, whats the problem there ? Its stupid and should not happen again.
http://everycryptonews.com/24-year-old-jailed-selling-bitcoin-without-asking-id/
I think he was using local bitcoins to make his sales.
People are better off buying and selling on the exchanges, because that way the responsibility to check ID lies with the exchanges and not you.
wow $50000 that huge amount of money no wonder if he US goverment catch him. i wonder who is the people buy bitcoin with him. this is new make people and government a bullet to against bitcoin make regulation for it and even worse shutting down bitcoin.Quote
US law agencies can celebrate another success in their tireless crusade to stop unlicensed money transmitting in the land of the free. The latest victory is sending a 24-year old crime kingpin to federal prison for making $40,000 from trading bitcoin offline.
Eldon Stone Ross, a 24-year-old from Kennett Square borough of Chester County, Pennsylvania, has been sentenced on Wednesday to serve a year and a day in federal prison for buying and selling large amounts of bitcoin to people without reporting the transactions to the US government.
The young man supposedly sold $1.5 million in bitcoin for almost two years but made only $40,000 (a mere 2.6%) in commissions, which he now has to hand over to the government in addition to his year-long prison sentence. He has been convicted for conducting an unlicensed money transmitting business between January 2015 and November 2016 and failing to report the fiat to bitcoin transactions.
Ross admitted in October 2017 to selling $50,000 worth of bitcoin to undercover federal agents related to Homeland Security Investigations. In each case, they reported he failed to obtain identifying information from the agents, according to court records. Like in previous such cases across the US, the authorities claim that by not conducting exchange-like know-your-customer (KYC) procedures and reporting to the Department of the Treasury, the bitcoin seller was enabling money laundering.
Eldon Stone Ross, a 24-year-old from Kennett Square borough of Chester County, Pennsylvania, has been sentenced on Wednesday to serve a year and a day in federal prison for buying and selling large amounts of bitcoin to people without reporting the transactions to the US government.
The young man supposedly sold $1.5 million in bitcoin for almost two years but made only $40,000 (a mere 2.6%) in commissions, which he now has to hand over to the government in addition to his year-long prison sentence. He has been convicted for conducting an unlicensed money transmitting business between January 2015 and November 2016 and failing to report the fiat to bitcoin transactions.
Ross admitted in October 2017 to selling $50,000 worth of bitcoin to undercover federal agents related to Homeland Security Investigations. In each case, they reported he failed to obtain identifying information from the agents, according to court records. Like in previous such cases across the US, the authorities claim that by not conducting exchange-like know-your-customer (KYC) procedures and reporting to the Department of the Treasury, the bitcoin seller was enabling money laundering.
I think he was using local bitcoins to make his sales.
People are better off buying and selling on the exchanges, because that way the responsibility to check ID lies with the exchanges and not you.