Another "money launderer" arrested who sold bitcoin on localbitcoin

[kpitcher]

https://www.coindesk.com/michigan-ma...coin-exchange/

A Michigan man has been charged with running an unlicensed money transmitting business after selling nearly $150,000 in bitcoin online.

According to an indictment released by Detroit TV news services WD-IV Friday, 52-year-old Bradley Anthony Stetkiw ran an exchange through the LocalBitcoins website, conducting transactions at restaurants in the Bloomfield area. Stetkiw is alleged to have sold bitcoin as part of a business venture for approximately two years, at a volume that would make him subject to federal anti-money laundering regulations.
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Of the total, the documents, filed with the U.S. District Court for the Eastern District of Michigan, assert Stetkiw sold more than $56,000 worth of bitcoin to federal agents through six meetings.

I wonder how any random person is going to be able to pay a bitcoin ransomware when a new coindesk account takes a week or more to set up?

Although.. does this mean the US Gov officially deems Bitcoin money?

[devil21]

https://www.coindesk.com/michigan-ma...coin-exchange/



I wonder how any random person is going to be able to pay a bitcoin ransomware when a new coindesk account takes a week or more to set up?

Although.. does this mean the US Gov officially deems Bitcoin money?

No, it means the Fed owns the FRN currency involved and the US Govt is the legislative rule-setter and judicial enforcement arm for the Fed. Using the FRN is what gives them a jurisdictional claim (at least for the purposes of securing an indictment) since your body is literally the security pledged against their private currency. If Stetkiw had traded bitcoins for something other than the Fed's private currency, the Fed would have no jurisdictional claim as none of their property was involved in the transactions.

[ClaytonB]

https://www.coindesk.com/michigan-ma...coin-exchange/



I wonder how any random person is going to be able to pay a bitcoin ransomware when a new coindesk account takes a week or more to set up?

Although.. does this mean the US Gov officially deems Bitcoin money?

I've traded cash for Bitcoin and vice-versa. Pretty sure one of the guys I traded with was some kind of three-letter thingy. Real friendly and "normal" but just had that air about him, can't really describe it in words.

[The Northbreather]

I've traded cash for Bitcoin and vice-versa. Pretty sure one of the guys I traded with was some kind of three-letter thingy. Real friendly and "normal" but just had that air about him, can't really describe it in words.

Spidey sense

[kpitcher]

I've traded cash for Bitcoin and vice-versa. Pretty sure one of the guys I traded with was some kind of three-letter thingy. Real friendly and "normal" but just had that air about him, can't really describe it in words.

From the few articles about arrests the feds appear to do multiple buys. Be careful