Recently, Michigan man has been charged an unlawful money transmitting business after selling nearly $150000 in bitcoin online.
According to an allegation, Bradley Anthony Stetkiw, 52-year-old ran an exchange via the LocalBitcoins website. However, conducting transactions at restaurants in the Bloomfield area. He assumes to have sold Bitcoin as part of a business venture for approximately two years. Since at a volume that makes him subject to federal anti-money laundering regulation.
According to the reports, the document filed with U.S. District Court for the Eastern District of Michigan. Moreover, Stetkiw sold more than $56000 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 hundreds of thousands of dollars in bitcoins while failing to comply with the money transmitting business registration requirements set forth in Title 31, United States Code, Section 5330”.
Notably, stetkiw is not only the first LocalBitcoins users to suspects for trading bitcoins.
Formerly year, Detroit resident Sal Mansy plead guilty to the charge of operating an unlicensed money services business. He allegedly conducted $2.4 million-worth of transactions over a two year period ending in July 2015.