Campaign for Pascal Reid: Case may set a precedent

The campaign site for Pascal Reid warns that the outcome of the case will set a future precedent, and therefore

The campaign site for Pascal Reid warns that the outcome of the case will set a future precedent, and therefore urges support for the benefit of Bitcoin.

Reid and Michel Abner Espinoza were arrested in Florida on charges of money laundering and operating an unlicensed money services business, not long after the arrests of Charlie Shrem and Robert Faiella on similar charges.

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The campaign bears resemblance to that of the higher profile case of Ross William Ulbricht, whose Free Ross Ulbricht campaign has been well-publicized and garnered the support of high profile Bitcoiners like Roger Ver. Ulbricht’s campaign has already gotten over $130,000 of its $250,000 goal, with $160,000 pledged by Ver.

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Without stating it outright, the campaign hints that money laundering laws should not apply to bitcoins. Such arguments were recently thrown out in the Ulbricht and Faiella cases.

The campaign disputes other aspects of the accusations and evokes the plight of Reid and his family. The “legal defense has depleted” their “family of all of our resources.” The high costs of monitoring fees for his house arrest and its impact on his ability to find work are also mentioned in draining finances.

One should note that highly passionate Bitcoiners disappointed by the IRS ruling that Bitcoin is not currency may have to reverse their position if they believe money laundering laws should not apply to Bitcoin. Then again, they’ll counter that if the government can vary the definition depending on the application, so can they.

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