Two Florida Men Face Charges over Bitcoin Transfers

Run afoul of anti-money-laundering regulations

At least two men in Florida have been charged for moving large volumes of bitcoins via the popular person-to-person exchange LocalBitcoins.com. They were charged under state anti-money-laundering laws following an investigation by the US Secret Service, said reports.

Security blogger Brian Krebs reported that Michell Abner Espinoza of Miami Beach was arrested after a sting in which an undercover agent engaged him in a fake transaction to convert $30,000 worth of cash into bitcoins.

In addition, 29-year-old Pascal Reid was also arrested after meeting with an undercover agent to exchange $30,000 for bitcoins.

Comments

[davpam]

Money speculations are widespread and this is the main direction of government's control. Unfortunately many financial operations are conducted bypassing this control. There are also ambiguous operations like online loans which are very useful if they are strictly regulated.