The government didn’t win anything, and due to the early plea deal the case luckily carries no precedent
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The government didn’t win anything, and due to the early plea deal the case luckily carries no precedent
Taking a fee for a matchmaking service is not money transmitting. The theory of the case brought by the Feds was entirely novel, but the risk was very high to try to argue it in front of a jury and a judge who had demonstrated obvious animus to the defendants. eBay does not need a money service business license to charge a fee to gold bullion dealers on its site
That’s not true. There’s nothing in the law that agrees with you.
No, I don’t think they get it. But the enemies of freedom are deeply entrenched in every government entity. It’s no wonder why Satoshi maintained his absolute anonymity.
They never took custody of any funds. It was a matchmaking service that ran on their servers.
They pleaded to conspiracy to run an unlicensed money transmitting business. FinCEN told them they did not need a license and did not have a process in place to allow non-custodial entities to get a license. Their prosecution was political and nothing they did was actually illegal under the letter of the law.
Great rip! Convince your portfolio companies to adopt silent payments. https://fountain.fm/episode/IQVpOfYeA8yWzF1vz7oa
Thats not what they were convicted of