Miami judge dismissing first ever bitcoin money-laundering case, ruling bitco… _ rebrn. com money laundering methods

Miami judge dismissing first ever bitcoin money-laundering case, ruling bitco… _ rebrn. com money laundering methods Police draw guns, mistake Iowa defensive lineman who was playing Pokemon Go for bank robber “Basically, it’s poker chips that people are willing to buy from you,” said Evans, a virtual-currency expert who was paid $3,000 in Bitcoins for his defense testimony. “Thank you for testifying that bitcoins aren’t money, how would you like to be paid?” Its no more money than gold is. Money laundering journal The market gives a value to a finite product whereas money has to be legal tender.

U s anti money laundering laws However the man should be guilty of laundering via commodities.


So does that mean that you can legally launder money as long as the medium of exchange is poker chips and not cash? Sweet! There are online casinos Americans use, they’re just not hosted in America.

Don’t forget that by law they can’t pump their own gas at a gas station in New Jersey. Anti money laundering meaning in hindi Their own legislature must think that the people of New Jersey are too stupid to pump their own gas. I think that’s the fault of the Florida law. Money laundering laws in pakistan The headline on this is a complete trainwreck. What is money laundering in india It’s not that Bitcoin isn’t money, it’s that the Florida law stipulates promoting illegal activity. Money laundering hmrc Which there isn’t any way to know or prove.

Next up – paying people to dig a ditch and paying other people to fill it in. Wow the first part is a real quote. What does laundering money mean Thought this was a joke you wrote.

Woo hoo. What is money laundering and how does it work Gonna pay me some hookers with bitcoin. Money laundering fatf It’s not money so it’s not prostitution Not really. Global anti money laundering It just means that an overly broad law will need to be re-written if they want to stop bitcoin from being used for illegal transactions.

Crypto’s getting treated as either a commodity or some sort of bizzaro forex thing depending on when and where and who’s microscope it’s under. What is money laundering yahoo One case isn’t the end all be all. Honestly, the only thing un-American about New Jersey is the state government’s stranglehold on gun ownership. I’ve got a case of them here in my house, how many thousands of dollars are you willing to give me for them? Wow, TIL why all the boiler room scams seem to originate out of Florida.

Anti money laundering uk Most of the modern con artists that have made the news were Florida veterans. It’s a bit technical, but here’s the current state of things: The US Government defines what is and isn’t “currency”; basically anything a government issues or regulates as a denomination of value.

Who do you report money laundering to This means the US Government has unofficial ruled that Bitcoin is not a “currency”. However the IRS has defined it as a “commodity”, which means all the laws concerning exchange of “commodities” apply. Money laundering courses If you get paid in Bitcoin, the IRS wants their share as if you had been paid in currency.

Fatf money laundering This just treats Bitcoin like any other commodity (people have tried paying their employees in commodities to avoid taxation before). Money laundering law Money Laundering is a “value” based law. Money laundering origin It doesn’t matter if you use greenbacks, gold doubloons, or Bitcoin. This case was dismissed mainly due to the Florida law’s incomprehensible vagueness.

Meaning money laundering Kudos to the judge for not allowing the Prosecutor to extend “financial transaction” to all “private property” (including Bitcoin). It’s not a “big issue”, but it’s an easy one to mock. Money laundering test It makes as much sense as legislating that someone must tie your shoes, draw your curtains, or put up an umbrella for you. More often than not, I’d rather be able to pump my own. Federal anti money laundering regulations For every time it’s nice to not have to get out of my car, there are ten times when I’m stuck waiting for the attendant to finish up with someone else before he can help me. That makes my brain hurt. Reverse money laundering A dollar bill isn’t some magical device that somehow accretes value through a mysterious process.

It represents X amount of purchasing power, based on various factors that change daily, but it all boils down to: are you willing to exchange it for labour/goods and services? If so, it’s money.

Does that mean I can wash bitcoins in Tide, the same way I launder my USD? Having grown up in nj I have no idea why people treat this like it’s such a big issue. “This court is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning,” she wrote. But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank, and was not “tangible wealth” and “cannot be hidden under a mattress like cash and gold bars.” I think the judges ignorance on the issue helped the defendant.

Money laundering insurance I think if she understood how easily it is to convert bitcoins into “tangible wealth” (as she see’s it) that it might change her perspective on the issue. There are a variety of legal exchanges operating in the US under regulated authority that can immediately convert bitcoin into cash in the bank. Acca money laundering Much much faster than anyone could convert gold into cash. It would be easy to turn my car into tangible wealth, doesn’t make cars money.

You do not need money for it to be considered gambling. Money laundering regulations 2016 Simply putting your money into Bitcoins and then using those as bets is the exact same thing There are already laws that cover this, which is what makes the ruling somewhat troublesome.

Fighting money laundering You can’t launder in commodities either, so it seems like it should be fairly irrelevant what bitcoin is defined as (currency vs commodity). Shit…TIL it is spelled “voila”. Insurance money laundering I’m leaving it so your comment makes sense and I can take my beatings.

Just because it doesn’t have “U.S. Layering money laundering definition Legal Tender” stamped on it doesn’t mean it isn’t currency. Money laundering tips Yet another case of a judge falling way behind the curve when it comes to what is actually going on in the 21st Century. The judge did not fall behind the curve nor does Bitcoin have to be stamped as U.S. Anti money laundering documents required Legal Tender to be considered currency. Money laundering origin According to the article, the judge clearly ruled Bitcoin is not currency because it is not backed by any government or bank.

Ah, I will remember to only use bitcoin when I bet on illegal possum fights. Yeah, but that’s a terrible misallocation of labor though, and a burden on local businesses.

Money laundering high risk geographies are In the long run, society doesn’t benefit from make-work jobs. Explain money laundering Mind you, in this case, the effect is minor because we’re only talking about a few thousand jobs.

What does money laundering accomplish I’m just saying it’s not a good strategy for job creation. If the government wants to create opportunities for people, the best way to do that is to invest in education/training, and to attract businesses to the state that could make productive use of that labor.

While I’m glad for the outcome for this particular case because the underlying motives for charging him seem dubious … Money laundering vancouver the judge’s understanding and interpretation of money is poor.

Recent money laundering cases in india There are lots of instances of money meeting the judge’s interpretation of “not money”, and vice versa. What backs up legal tender is twofold: it’s the only currency you can pay taxes in, and it’s the only currency your creditors are obliged to accept in payment. Try to pax taxes or pay off debt with bitcoin or any other money or any other asset, and the government or your creditors are perfectly able to refuse payment and take you to court. Money laundering penalties uk Pay in legal tender and they must accept it and leave you alone.

Additionally, government bonds are bought and pay out in the currency of the government that issues them. Is money laundering a crime There’s probably a whole bunch of other things like that.

Us money laundering laws But what really cements legal tender as something you need to primarily deal in is taxes and debt. The way you worded your post makes it seem like a dogecoin is worth $5. Also, I could give a lawyer a ferrari in exchange for services, that won’t make ferrari legal tender. if you start using cars to turn drug money into bank account balance, that might not make it “money”, but it does make it “money laundering”.

Is it a separate law? It might be that the judge dismissed because he thought the wrong charges were brought, rather than because he thought the act legal. This court case has been in the system for four years.

Money laundering in india The defense has had every expert on Bitcoin from prominent universities. Bitcoins are no more a currency then silver or gold is though. Money laundering florida Its a commodity people have assigned a value.

Partially correct, but governments play a big role and it is “backed up”. Money laundering usa Bitcoin has value only as long as people give it value whereas in theory currency is backed up by the value of the country. Not being legal tender isn’t the same as not being currency. What is money laundering yahoo Also a ferrari doesn’t have the properties of currency so it’s a ridiculous comparison.

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