Authorities To Imprison A Man From Ohio For Defrauding $30 Million In A Crypt...
An Ohio man will be getting 20 years in prison for carrying out a cryptocurrency scam. Michael Ackerman has pleaded guilty to the crime and might be spending a long time in prison. According to the US Justice Department, the man pleaded guilty to the multi-million dollar cryptocurrency scam last week. A Cryptocurrency Scam Worth Of Millions Michael Ackerman planned and executed a cryptocurrency scam in 2017. This scheme promised to pay investors 15% on their investments every month. Even though the benefits were too dubious and impossible, many investors rushed in to utilize the....
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The U.S. has sold about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a fraud case. The seized bitcoins were sold for nearly $19.23 million, Acting U.S. Attorney Bridget M. Brennan announced Thursday. The coins seized during the investigation were initially valued at approximately $2.88 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. The....
Friday, Ohio regulators banned Bitcoin-for-alcohol sales in the state. Ohio regulators impose a bizarre ban on bitcoin-for-alcohol transactions in the state. Nikhil Chand, founder of CoinNEO and Bitcoin Boulevard, patiently prodded state regulators about the legality of Bitcoin-for-alcohol transactions. The federal Alcohol and Tobacco Trade Bureau gave him the go-ahead. But when the Ohio Department of Public Safety finally issued an official response, it was not what he had hoped for. "Bitcoin cannot be accepted as payment for alcohol in the State of Ohio," state regulators decided. The....
Bitcoin (BTC) continues to witness greater adoption as the Ohio Board of Deposit recently selected a vendor to facilitate the acceptance of cryptocurrency payments for state fees and services. Ohio To Accept Payments In Bitcoin According to a recent official announcement, the Ohio Board of Deposit has selected a vendor to enable the acceptance of […]
Looking to get your drinking on at the upcoming Bitcoin Boulevard in Cleveland, Ohio? You may just run into a legal snag, it seems. A Cleveland.com reporter filed a story late last week with indications that the State of Ohio does not want bitcoin to be used as a form of payment for alcohol. The official word came from Eric Wolf, who serves as agent-in-charge at the Investigative Unit within the Ohio Department of Public Safety. "Bitcoin cannot be accepted as payment for alcohol in the State of Ohio," the Department ruled, making them the first in the United States to take prohibitive....
The State of Ohio has effectively banned the use of bitcoin for alcohol sales, becoming the first government in the US to take such explicit action. The decision reportedly came in response to a local journalist's query to the Ohio Department of Public Safety, after that reporter wrote about the Bitcoin Boulevard US project in Cleveland's Cedar & Lee district. The query asked if accepting bitcoin could jeopardize local liquor licences in any way. The Department of Public Safety is responsible for issuing liquor licences in the state. Apparently, the answer is 'yes'. Money and currency.....