After a ruling on Wednesday by the U.S. Third District Court of appeals, a Florida Bitcoin trader will be facing a trial by jury over felony charges in Miami for selling bitcoin to undercover police.
The court on Wednesday ruled, “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” He will Now face serious felony charges for money laundering as well as operating an unlicensed “money services” company.
Miami Beach police got Espinoza on LocalBitcoins.com where he was using the name MichellHack and asked to meet in person.