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200 sats \ 1 reply \ @nerd2ninja 21 Oct 2023 \ on: Inside a $30 Million Cash-for-Bitcoin Laundering Ring in the Heart of New York bitcoin
The men allegedly violated the law in that they are not a registered or licensed money transmitting business.
Look aiding and abetting I get, but money transmitting means they took someone's money and facilitated in its transmission. Buying and selling Bitcoin should not fall under money transmitting because no money is transmitted!
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133 sats \ 0 replies \ @k00b OP 21 Oct 2023
Yeah it sounds like they were an in-between rather than selling their own bitcoin.
The investigation started in around April 2021 when the FBI identified a vendor on multiple dark web marketplaces who offered a service to ship cash via the U.S. Postal Service in exchange for Bitcoin or other cryptocurrency.
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