A resident of the US state of New Jersey was accused of organizing and managing an unlicensed cryptocurrency exchanger.
William Green was charged in a case involving the management of an unregistered remittance company through the Destination Bitcoin website. Through the site, he allegedly accepted payments of more than $ 2 million and converted these funds into BTC for customers an additional fee, the report says
New Jersey Prosecutors.
Green will have to be brought to trial shortly. The prosecutor’s office stated that, in accordance with federal law, any person who owns or operates a money transfer business must register it with the Ministry of Finance.
“However, Green was not registered either on his own behalf or on behalf of his company, which was engaged in remittances,” the message says.
The maximum penalty for such a violation is five years in prison and a fine of $ 250,000.
Last year, in Pennsylvania, Eldon Stone Ross was charged with running an unlicensed remittance company and sentenced to one year in prison.