Florida Judge Fleur Lobree dismissed Pascal Reed's motion to drop illegal money transfer charges in an case relating to him selling roughly $25,000 worth of Bitcoin to a Secret Service agent in a sting last winter. Reed's lawyer argued that as merely a token of value applying Florida's money transmission laws to individuals as opposed to corporations would set a horrifying precedent:
"The statute was intended for the exchange of money for money, If you extend it to anything of value, then any customer using a credit card to buy something, anyone holding a yard sale and accepting cash, is a money transferer."
According to Miami-Dade State Attorney Katherine Fernandez Rundle two other people were arrested as a result of this sting targeting "individuals engaged in high volume Bitcoin activity."
So high volume Bitcoin transfers now amount to trapping? War on Bitcoin?
Well Florida state laws apparently make it illegal to transact anything larger than $500. This was supposed to be a "war on drugs" loophole.
Amazing how this "war on drugs' quickly turns into an inability to have nice things at all.