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The man in Michigan sued for selling Bitcoin

According to local media reports, a Michigan man named Bradley Anthony Stetkiw was accused by local authorities of having exploited a money transfer business without a license. The charges were brought in the US District Court.

According to the report, Stetkiw had negotiated Bitcoin transactions worth hundreds of thousands of dollars without the required licenses for monetary brokerage. He used the site LocalBitcoins and met his future customers at the restaurant of Tim Horton, under the name SaltandPepper.

As part of an undercover operation, federal agents met the merchant and bought others. During a number of meetings, Bitcoin paid $ 55,000, and Stetkiw even negotiated deals with vendors from outside the state. These activities are all licensed by federal and state agencies.

The operation highlights the fact that Bitcoin is still in a generalized "adoption curve", the power of the decentralized currency being mitigated by the dangers of illegal activities. Governments, while embracing growth potential, continue to worry about the risks associated with bitcoin and other cryptocurrencies.