02.03.2018 A year in jail for selling bitcoins

24-year-old resident of Pennsylvania, Eldon Stone Ross, has been sentenced to spending a year in federal prison, after which he still has to pay a $ 40,000 fine and to serve three years of supervised release.

The enterprising guy tried to sell the cryptocurrency, but in his case, his buyers were federal agents. The prosecution lies in the fact that Ross made no efforts to find out whether the buyers had a license for such an activity.

Under US law, licensed platforms, such as Coinbase, report transactions involving more than $ 10.000 to the Department of the Treasury. In the case of the accused, an attempt to sell bitcoins equivalent to $ 1.5 million was made. Also Ross admitted that he had previously made transactions of $ 50.000 in total.

Such a case is unique for the US judicial system. The Assistant Prosecutor, who participated in the trial, said that it was the first one in his experience.

By the way, the fact that earlier Ross had already served time in jail for heroin trafficking wasn`t good for him.