Published On: Sat, Oct 28th, 2017

Michigan Man Busted for Unlicensed Bitcoin Exchange – Faces Jail Time

Share This

A man in Michigan is facing federal charges for operating an unlicensed Bitcoin exchange after selling over $55,000 USD of Bitcoin to undercover agents.
There’s a song that goes, “I fought the law, and the law won.” The reality is that the law usually wins as the state can devote an incredible amount of resources upon an individual or organization when it wishes to. Lately, the US government has been looking hard at unlicensed Bitcoin exchanges, which runs afoul of federal law. The latest catch for law enforcement is 52-year-old Bradley Stetkiw of Michigan as he was recently named in a federal indictment for illegally exchanging Bitcoin in Bloomfield Township.
Buying some Bitcoin while chowing down on some donuts.
Selling Bitcoin Out of a Restaurant
While there’s no information on how law enforcement got wise to Bradley Stetkiw operating an unlicensed Bitcoin exchange, the details of his operation was that he would meet buyers in person at a Tim Hortons restaurant and sell bitcoins at a premium. He actively used the LocalBitcoins website, where he went by the moniker of “SaltandPepper.” (I guess he was big into 80s rap groups.)
Over the course …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Most Popular Posts

ALL Bitcoin News

Like what you’re reading?

Never miss any breaking Bitcoin news by following us on Facebook and Twitter!