The United States uncovered illegal bitcoin remittance cases criminals face 5 years imprisonment
In May 4th, the United States, Western Missouri, nick of a man in the United States federal court pleaded guilty to charges of bitcoin transactions through unauthorized cash remittance business, namely illegal bitcoin remittance.
The 37 year old JasonR.Klein gave up a grand jury rights, and on Tuesday the U.S. magistrate judge David Rush (DavidRush) ruled that federal data before the confession. He acknowledged that unlicensed and unregistered money transfer business.
Klein admitted to the Internet via bitcoin transactions for cash remittance. However, according to the provisions of the federal and local law, Klein did not have a licence or permit remittance business related, so that bitcoin remittance is illegal.
The detection of illegal bitcoin remittance
An undercover FBI response to Klein released online advertising. Klein told investigators he charge 10% Commission for each $1000 bitcoin remittance.
Between February 6, 2015 and July 27, 2016, Klein and two other secret FBI contact, and repeatedly use bitcoin remittance cash transfers. Klein pleaded guilty to lists five separate material transactions, the amount from $1000 to $15000. These dollars are exchanged for the transfer of bitcoin. Klein from these bitcoin remittances received a total cost of $2122.
According to federal regulations, Klein without parole, will face five years in prison.
Bitcoin itself is not illegal, it has other legitimate purposes. Bitcoin electronic money is a distributed, complete in the presence of the internet. And bitcoin does not by any government, bank or company issued, but run by the “equivalence” on the network computer software automatic generation and control.
The user must usually from bitcoin “traders” hands get bitcoin. In exchange for the Commission, bitcoin traders receive some money in the form of routine payments, including cash, and the corresponding amount of money according to the exchange rate. The convenience to bitcoin remittance business.
Traders also accept bitcoin payment, and bitcoin exchange for conventional monetary, again for the service commission.
Once the user from the dealer to get bitcoin, bitcoins will be saved in the specified bitcoin wallet address “. The address is similar to the bank account number, insurance box “wallet” is similar to the account. Bitcoin remittance is to use a principle to avoid the bank regulation and high fee, and long waiting time.
Once bitcoin users for his wallet to provide funds, users can transfer from his bitcoin bitcoin wallet to another user’s bitcoin wallet to conduct financial transactions through the internet.