DOJ cracking down on Bitcoin exchanges

infoslob

infoslob

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Jul 13, 2011
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Department of Justice arrests the operators of BTCKing and BitInstant.

DOJ Finally Going After The Criminal Materminds With Arrest Of 24 Year-Old Bitcoin Exchange Founder | Zero Hedge



Reuters reports that the U.S. Attorney's office in Manhattan said in a statement that authorities arrested Charlie Schrem, chief executive officer of the exchange BitInstant.com, on Sunday and Robert Faiella, who ran an underground Bitcoin exchange called BTCKing, on Monday. The two were charged with conspiring to commit money laundering and operating an unlicensed money transmitting business. Schrem is also vice president of the main Bitcoin-focused trade group, the Bitcoin Foundation, according to the foundation's website and Schrem's LinkedIn profile.


Just noticed there's a thread on this - and I can't delete.

So cool your tits.

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Where was the thread where lukep wanted to set something up exactly like this?

I mean, he was right on investing in bitcoin, but... yeah, nuf said.
 
here goes the bubble. watch btc plummet over the next few weeks.

lukep, strap in bro.

deflation is a motherfucker.

"ain't no bollinger bands gonna put a rope around me..." hey, joe...

where ya goin' with that BTC in your hand.

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lukep, wickedfire has just called you out. WHAT THE FUCK ARE YOU GOING TO DO? we await your reply
 
Ok, first thing's first... I thought the US government's official stance was that bitcoin is not a currency? So why the fuck are they being charged with financial crimes, when they're not even dealing in a currency? So bitcoin isn't a currency, unless it suits them for a particular occasion? Is that about right?

Second, they were involved with Silk Road and drug sales. When the CEO of Overstock gets hauled off by the FBI for accepting bitcoin, then I'll get worried about the demise of bitcoin.
 
Don't be a fool.

They aren't cracking down on the exchanges as a whole.. yet..

This is an isolated incident over a kid that was involved with buying the drugs.. laundering the bits of coins... discussing it... pretending to be a squeaky clean motherfucker, but really running a shit show exchange, that he closed down months ago anyway because he couldn't handle that operation as is.

I don't think the money transmitter without a license charge will stick, but I do think the laundering and drug related stuff will... that is, if he doesn't roll on everyone.. which I'll bet he does! lol
 
Jon said:
1:24 LOL!! Guess he stopped paying those lawyers...

Bitcoin Documentary - "The Rise and Rise of Bitcoin" - YouTube
Click to expand...

I'm guessing he did continue to pay, but didn't listen. He had enough money from investors to pay.

It is my understanding a legal opinion doesn't protect you much even if you stick to it 100%, but if you don't or don't fully disclose to your attorney the extent and implications of what you are doing...

Anyone better versed in legislative compliance feel free to correct me.
 
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