Two Florida Men Face Charges over Bitcoin Transfers

At least two men in Florida have been charged for moving large volumes of bitcoins via the popular person-to-person exchange LocalBitcoins.com. They were charged under state anti-money-laundering laws following an investigation by the US Secret Service, said reports.

Security blogger Brian Krebs reported that Michell Abner Espinoza of Miami Beach was arrested after a sting in which an undercover agent engaged him in a fake transaction to convert $30,000 worth of cash into bitcoins.

In addition, 29-year-old Pascal Reid was also arrested after meeting with an undercover agent to exchange $30,000 for bitcoins.

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