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ARTICLE · 01 MAY 2019

Cryptocurrency Enforcement Actions Continue In US And Asia Markets

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Earlier this week, a U.S. district court in California sentenced a bitcoin dealer to two years in prison and ordered him to forfeit $823,357 in illicit profits from an unregistered cryptocurrency

United StatesTechnology
Jordan R. Silversmith
Jordan R. Silversmith
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Earlier this week, a U.S. district court in California sentenced a bitcoin dealer to two years in prison and ordered him to forfeit $823,357 in illicit profits from an unregistered cryptocurrency exchange. Jacob Burrell Campos, a U.S. citizen, pleaded guilty last October, admitting that he operated a bitcoin exchange without registering with the Financial Crimes Enforcement Network (FinCEN) of the Treasury Department and without implementing the required anti-money laundering safeguards. Meanwhile, on April 10, Texas regulators issued an emergency cease and desist order against a cryptocurrency and foreign currency trading platform. According to the regulators' order, FxBitGlobe, which markets itself as an investment company, published forged government documents, used a fake address and falsely claimed to be a registered broker-dealer.

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