On April 9, the state legislature of Michigan (United States) reported on amending the State Penal Code. From now on, cryptocurrencies will become a criminal offense in the sections on money laundering, betting on animal fights and fraud.
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Cryptocurrencies in the Michigan Penal Code
Since April 9, the use of cryptocurrency in the US state of Michigan is considered illegal in cases of credit card fraud, money laundering, "black market" and betting on animal battles. According to the amendments to the law (Bill 4102), cryptocurrencies will be considered in legal proceedings on these offenses.
"Cryptocurrencies have already become part of our economy, as well as part of the state public. They needed to be specified in the legislation" – Ryan Berman, Michigan State Representative.
The bill of necessary amendments was developed because of a series of violations with clandestine dogfights throughout the state. When the underground organizations were exposed, during the investigation it was discovered that all the rates were in cryptocurrency.
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Cryptocurrency was included in the Michigan Penal Code. Recall that the Ripple cryptocurrency company reported on cooperation with several higher education institutions for the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details, among which was the University of Michigan.
Editor: Godfrid Brower