Sell Bitcoin for cash, get years in prison

[kpitcher]

Looks like the man is cracking down on person to person bitcoin sales.

https://news.bitcoin.com/government-...-transmitters/

In a recently circulated case, a Missouri man pleaded guilty to conducting an unlicensed and unregulated money transmitter service. The man, Jason R. Klein, posted advertisements on the internet to exchange Bitcoin for cash. The Missouri attorneys office statement said,

Between Feb. 6, 2015, and July 27, 2016, Klein, acting with another, met with two undercover federal agents on numerous occasions to exchange bitcoin for cash. Today’s plea agreement cites five separate transactions in which money (ranging from $1,000 to $15,000) was exchanged in person for an electronic transfer of bitcoin. Each of the transactions included a fee that Klein or another person charged the undercover agents, for a total of $2,122 in fees.

Klein is subject to receive a penalty of up to five years in prison without parole.

Interesting.. so if you're a computer shop and a hospital staffer comes in to ask for help, they were hit with a crypto locker virus with a day left to pay or medical records go away forrever. It appears you would have to say 'sorry, I would love to help you but the government says you must buy your bitcoin through one of a few exchanges that take days to verify your identity, you're screwed'

[Dr.3D]

I suspect this whole thing about computers, ransom and bitcoin is just a way to get at bitcoin and make is too difficult to use. Somebody has it out for that currency.

[phill4paul]

I suspect this whole thing about computers, ransom and bitcoin is just a way to get at bitcoin and make is too difficult to use. Somebody has it out for that currency.

I'm in agreement.

[oyarde]

So tax dollars are being used by undercover govt agents buying bitcoin with cash ? Sounds very legit , thanks govt for looking out for everyone .