• Bitcoin related arrests

    by
    Norm
    Published on 01-27-2014 11:41 AM
    3 Comments Comments
    Although this article is not about AP play, I was struck by a statement late in the text. It refers to a charge of willfully failing to file an SAR in a Bitcoin transaction. If correct, this suggests that large Bitcoin transactions require CTRs; which shouldn't be surprising. If Bitcoins are used more often in future casino transactions, online or brick and mortar, this is something to keep in mind.

    http://www.nbcnews.com/technology/tw...ite-2D11999981

    Comments 3 Comments
    1. bigplayer's Avatar
      bigplayer - 02-13-2014, 12:00 AM
      Yes, but some AP's used Bitcoins (and Silk Road) to purchase certain products.
    1. Tarzan's Avatar
      Tarzan - 02-13-2014, 05:49 PM
      I hear a lot about this Bitcoin lately. Of course the FEDs are going to have their noses right up to the ass of that little bandwagon, eh?!? The Silkroad thing, the big gain in value, the recent crash... what is the deal with these Bitcoins? Should they be regarded as a viable currency?
    1. Bodarc's Avatar
      Bodarc - 02-13-2014, 06:26 PM
      They were breaking numerous laws. Exchanging bit coins for cash (requires a cash transaction report). Buying illegal drugs (think that is against the law). Dealing with drug individuals ( money laundering) and operating an illegal money transmitting business and probably they could also be charged with operating an unregistered bartering business.

      They are TOAST!!

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