Quote from: oyvinds on February 20, 2014, 12:27:02 AM

Quote from: minerdetail on February 09, 2014, 11:21:49 PM

Glad to see that illegal money operations are seized and the guys behind are being prosecuted. If Bitcoin should have a chance growing up, we need to stop those youngsters that think they can get away with transactions in Bitcoin that are not allowed in fiat-money.

I think you are missing the fact that they consider it an "illegal money operation" if you buy or sell BTC worth more than $300 per year. You sell 1 whole BTC at the current price during a whole year without a MSB license and you're a criminal. Think about that for a second. This is what you get when fascism runs amok.

Not the way I read it... You (individual or business) can act as an intermediary of a transaction (selling something for a friend) as long as the USD amount is less than $300. Between $300 to $10,000 USD you will need a license to act as a third party to facilitate a transaction... The cap of $10,000 is strange to me as it's obviously not the highest amount that a money transmitter can work with. I guess above $10,000 it would require a different license and would follow a different article of the law...