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April 4, 2019

Crypto Trader in Jail, Legal Part 1


This video discusses how a court held a crypto trader guilty of operating as a money services business. Louisiana has stated that crypto-currencies are not money. Further, I find no law that shows that the federal government had any jurisdiction over the matter. The man is in jail because the courts decided to make law from the bench, which violates the Constitution. There are many lessons from this, the least of which is not to trust your lawyer to handle your legal case without doing your own research and appearing before the court. Other very pertinent issues of the case are discussed. An interview with the convicted man is presented with his opinion on why the government convicted him – because Bitcoin and other crypto-currencies threaten the government’s monopoly on money.