You may recall that law enforcement made two arrests*, during the recent Bitcoin conference in Miami Beach. Pascal Reid and Mitchell Adber Espinosa were charged with two counts of money laundering, and one of operating an unlicensed money service business, in state court.
The Bitcoin Foundation has filed an Amicus Curae brief, in support of the defense motion to dismiss the unlicensed money service business count only, arguing:
(1) Florida's money service business statutory scheme is inapplicable to individuals transacting in Bitcoin.
(2) The Rule of Lenity** precludes conviction. Is Bitcoin included in the MSB law, as it is not money ?
(3) Peer-to-peer Bitcoin transactions are inherently local, thus the price on an international exchange is not the price in a local market.
 |
| The Defendants |
Readers who wish to review the entire brief can find it here***.
____________________________________________________________________________
* State of Florida vs. Reid, Case No.: F14-2935 (11th Judicial Cir. Ct. Florida).
** The rule of Lenity requires that criminal statutes shall be strictly construed against the government, and any ambiguities in favor of the defendant.
***Memorandum of Law of Amicus Curae The Bitcoin Foundation
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.