It means if you run an exchange without doing your due diligence and applying the proper regulatory procedures -- you get sent to jail.
Not really a huge revelation.
There are plenty of shoddy exchanges out there that don't operate above-board. This was one of them.
Topic: [2017-06-27]Bitcoin Exchange Operator Sentenced to Five-and-a-Half Years in Pris (Read 3837 times)
June 28, 2017, 11:18:33 AM
June 27, 2017, 05:35:27 PM
So it means that in US using the cryptocurrency and bitcoin is illegal and who ever is in this field is considered as doing illegal activity.
June 27, 2017, 05:29:20 PM
Bitcoin Exchange Operator Sentenced to Five-and-a-Half Years in Prison
The former operator of the now-defunct bitcoin exchange Coin.mx has been sentenced to five-and-a-half years in prison.
The sentencing of Anthony Murgio comes months after he plead guilty to operating an unlicensed money transmission business in January. Murgio, along with alleged co-conspirator Yuri Lebedev, was first arrested and charged in the summer of 2015. Federal prosecutors later unveiled new charges against Murgio in November of that year
Coin.mx was a Florida-based bitcoin exchange that federal prosecutors alleged acted as a financial conduit for the laundered proceeds of online criminal activity. The government sought as many as 10 years in jail for Murgio, a figure that the defense pushed back against earlier this month.
http://www.coindesk.com/bitcoin-exchange-operator-sentenced-five-half-years-prison/
The former operator of the now-defunct bitcoin exchange Coin.mx has been sentenced to five-and-a-half years in prison.
The sentencing of Anthony Murgio comes months after he plead guilty to operating an unlicensed money transmission business in January. Murgio, along with alleged co-conspirator Yuri Lebedev, was first arrested and charged in the summer of 2015. Federal prosecutors later unveiled new charges against Murgio in November of that year
Coin.mx was a Florida-based bitcoin exchange that federal prosecutors alleged acted as a financial conduit for the laundered proceeds of online criminal activity. The government sought as many as 10 years in jail for Murgio, a figure that the defense pushed back against earlier this month.
http://www.coindesk.com/bitcoin-exchange-operator-sentenced-five-half-years-prison/
Jump to: