Bitcoin Trading Isn't Money Laundering, But For How Long?

Law360, New York (August 8, 2016, 3:27 PM EDT) -- In February 2014, Michell Espinoza and Pascal Reid went to a Miami Beach motel as part of a plan to sell up to $30,000 worth of bitcoins — the "cryptocurrency" that is really just very strong, uniquely identifiable, freely transferable cryptography and was then selling for $473 each — to two men they had met online through the site LocalBitcoins.com. The two men, who were actually part of a joint Miami Beach Police-U.S. Secret Service undercover task force, had told Espinoza and Reid they had acquired their money through exploitation of a point-of-sale hack on a large retailer and its credit card...

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