The New South Wales(NSW) police seized $60,000 in cash from a 52-year-old woman in Sydney who is accused of being involved in the unlawful exchange of bitcoin.  The exchange of such sort is believed to be the first of its kind in the country and the police along with the cash seized 3.8 BTC too.

The <a href="https://www.theaustralian.com.au/news/latest-news/nsw-woman-trading-bitcoin-for-cash-charged/news-story/183e431f5918e10972332493307eb2fa" target="_blank" rel="noopener">investigation </a>against her began in November 2018 and it was done by Kerriwah which is cybercrime squad.  They looked into the matter of the illegal exchange for cash for cryptocurrency and found the women guilty on various accounts - being well aware of the crime she is committing and not following the requirements of the digital exchange services.

The Cybercrime commander Matthew Craft also stated that the transactions made in 2016 and 2017 were also taken into consideration and it was discovered that since 2017 over 326 bitcoin have been transacted through multiple wallets. The NSW Police also informs that the amount is way too much for an exchange which is not even registered in the county.

A search warrant was issued and in her house, they further discovered assets worth $18,000. The NASW confirms that this kind of case where an unregistered exchange or a person exchanging cash for bitcoin hasn't been recorded before. Det. Supt Craft also warmed the people about it and stayed this is the first arrest of this type but won't be the last as cases like these continue to grow.
<h2>NSW Police Confirm More Future Arrests</h2>
The crypto scam and money laundering case such as <a href="https://www.facebook.com/7NEWSsydney/videos/52yo-woman-charged-with-operating-illegal-online-digital-currency-exchange/680362056095665/?__so__=permalink&amp;__rv__=related_videos" target="_blank" rel="noopener">this </a>while maybe the first in Australia but they are a usual occurrence in Europe and the US.  <a href="https://www.cryptoknowmics.com/tag/bitcoin/" target="_blank" rel="noopener">Bitcoin</a> has been notoriously involved in cybercrimes and if the comments of NSW Officers are anything to go by, Australia might be the new favourite place to do illegal activities involving bitcoin.

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NSW Police Arrest Woman Accused of Illegal Bitcoin Exchange

They recovered $60,000 and 3.8 bitcoin at the time of arrest and the NSW officers inform us that while this is the first,more arrests like would happen too.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

NSW Police Arrest Woman Accused of Illegal Bitcoin Exchange

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