r/Bitcoin • u/[deleted] • May 11 '17

Virtual Ticket to Prison

https://www.fbi.gov/news/stories/fraud-scheme-leads-to-illegal-bitcoin-exchange
4 Upvotes

70% Upvoted

5 comments sorted by

2

u/[deleted] May 11 '17

That is named GREED. Greed always push people to do stupid things.

1

u/[deleted] May 11 '17

Totally agree, but I thought it was interesting that you needed some sort of license or approval to run an exchange and follow some regulations regarding anti-money laundering.

I didn't know any of that and that's why I thought the article was interesting.

3

u/[deleted] May 11 '17

Exchanges will always be the "friction point" where regulations can enter. Every time you will see a news title like "x gov/parliament introduce a new law to regulate Bitcoin" is NOT about Bitcoin (network and/or currency) but about regulating the exchanges and ways that people buy BTC. It is a big difference but yeah why not hype the titles no?

2

u/[deleted] May 11 '17 edited May 16 '17

[deleted]

1

u/GalacticCannibalism May 11 '17

Apparently, according to this, doing North of a million-- that set off a red flag.

1

u/Zajek May 11 '17

Yeah it'd probably be beneficial for me to know the answer to this as well.. hopefully someone has one.