A Michigan man has recently been charged with running an unlicensed money transmitting business after selling practically $150, 000 in bitcoin online.
According to an indictment released by Detroit TELEVISION news services WD-IV Comes to an end, 52-year-old Bradley Anthony Stetkiw ran an exchange through the LocalBitcoins website, executing transactions at restaurants in the Bloomfield area. Stetkiw is alleged to have sold bitcoin within a business venture for roughly 2 years, at a volume level that could make him subject matter to federal anti-money washing regulations.
With the total, the documents, filed with the U. S. District Judge for the Eastern Region of Michigan, assert Stetkiw sold more than $56, 000 worth of bitcoin to federal agents through six meetings.
According to the indictment:
"Operating under the user name 'SaltandPepper, ' Stetkiw bought, sold and brokered deals for thousands of dollars in bitcoins while failing to adhere to the money transferring business registration requirements arranged fort in Title 31st, United States Code, Section 5330. "
Stetkiw is notably not the first LocalBitcoins user to be charged for trading bitcoin.
Earlier this year, Of detroit resident Sal Mansy beg guilty to the fee of operating an unlicensed money services business. This individual allegedly conducted $2. 4 million-worth of transactions over a two-year period finishing in July 2015.
Additional arrests in Missouri and New York suggest activities against independent U. S i9000. bitcoin sellers are becoming more commonplace.