Man Arrested in The US For Selling 9.99 BTC in Exchange For “Hash Oil”

Man Arrested in The US For Selling 9.99 BTC in Exchange For “Hash Oil”

What governments all over the world are scared of actually exists. Lots of countries claimed that they would tackle on bitcoin and its brethren as long as they can be used for malicious purposes like money laundering, terrorism supply and the purchase of illicit goods as weapons and drugs.

Not long ago the US the Immigration and Customs Enforcement agency prevented what could have been the sale of prohibited drugs for bitcoin, in particular, for $9.99 worth of BTC.

According to case files from the US Southern District Court of California, a man, called Morgan Rockcoons was arrested for selling bitcoin for fiat that was (as he was told) the returns of the production and allotment of tabooed “hash oil.”

No space for dealers

Between December 30, 2017, and January 8, 2018, the man Rockcoons with a clandestine agent purportedly swapped 9.998 BTC, which valued at that time approximately $9,208, for $14,500 in public currency.

The man was told that the money was the gains concerning oil, which comprises tetrahydrocannabinol or THC. This chemical compound is the primary psychoactive element of cannabis and is among other controlled essences by the Schedule I by US federal law.

Later, in February, he was arrested by the Immigration and Customs Enforcement agency. It is the American federal government law enforcement body, which functions within the jurisdiction of the US Department of Homeland Security.

Now, the person is accused of deliberately carrying out a financial operation with a law enforcement agent for the rewards of criminal practices. The case regards the money laundering count as well. On top of that, the authorities aspire to seize all his assets that have a connection with the case.

By the way, it is not the first case of such matter. Earlier, a user of Localbitcoins, based in the state of Michigan, was charged. Then, an undercover agent said that any operation of over $3,000 must conform to the know-your-customer regulations.

Bitcoin Era Success Story: Teen Hits Jackpot With Crypto Trading
17-Year Old Hits The Jackpot With Cryptocurrency Trading Venture The news media has been swept up in a tornado with the latest news of a...
What Everyone Should Know About Tokenization
Blockchain tokenization is a means of digital representation of a right and can be done with the help of a ledger. This can be a right to asset...
Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold...
Crypto-Supporter Milne Said Bitcoin’s Only Ledger to Last 100 Years
As bitcoin continues trading approximately Twitter thread entrepreneur Alistair Milne forecasted that the upcoming cyber money bull will decide which...
Increased Supply of Altcoins Will Depress Bitcoin, Says St. Louis Fed Report
As it is known, crypto-supporters (bitcoin bulls) widely believe that the increase in the capped supply of all cyber-coins will boost bitcoin’s value...
BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss
Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s traded at $4,061 and...
Crypto-Community Celebrates Bitcoin’s 10th Birthday
This year’s January 3 marks a decade since the first bitcoin block was generated by Satoshi Nakamoto. Back then, in 2009, this person (or group of...
Best Bitcoin Memes in 2018: ‘Hodling’ and Crying
2018 has not been an easy year for bitcoin, not at all. Whereas it left 2017 at the price of $10,000, it started the new year in a pretty bullish...