The Government Continues Attempts To Take Down Bitcoin Through Nefarious Means

The government really dislikes it when people make a living by conducting moral business practices without paying for their permission to do so. This is all too evident when examining the most recent arrest of a man for selling Bitcoin.
According to local news media reports, a Michigan man named Bradley Anthony Stetkiw has been charged by local authorities for operating an unlicensed money transmitting business. The charges have been filed in US District Court. According to an indictment released by Detroit TV news services WD-IV Friday, the 52-year-old ran an exchange through the LocalBitcoins website, conducting transactions at restaurants in the Bloomfield area. Stetkiw is alleged to have sold bitcoin without a license (paying for permission from the government) as part of a business venture for approximately two years.
After selling about $150,000 in bitcoin, the feds set up a sting operation to catch Stetkiw. He sold more than $56,000 worth of bitcoin to federal agents through six meetings. Authorities say that that volume of transactions makes him subject to federal anti-money laundering regulations.

This post was published at shtfplan on October 30th, 2017.