A LocalBitcoins user based in Missouri has plead guilty to running an unlicensed money transmission business.
According to a statement from the US Attorney’s Office for the Western District of Missouri, Jason Klein plead guilty to the charge yesterday after selling bitcoin to two undercover agents on five occasions between February 2015 and July 2016. Prosecutors argued that he failed to obtain approval from both the Financial Crimes Enforcement Network (FinCEN) as well as the Missouri government to operate a money transmission business.
All told, Klein sold roughly 98 bitcoins to the agents, according to court documents, accruing about $30,000 over that period and charging commission on top of those sales. An unnamed second individual took part in two of those transactions, the documents state, but the identity of that person was not included in the record.
A LocalBitcoins account name identified in court documents shows that Klein has been selling bitcoins since at least 2013, with most of the publicly available feedback posted in that year. According to the site, he was last seen online eight months ago.
Klein is being represented by Mark Milton of St Louis-based law firm
Read more ... source: CoinDesk
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