Selling $ 2 million of Bitcoin illegally, the American man is at risk of peeling five calendars

Recently, a man from New Jersey, United States, was arrested and prosecuted by the Federal court with a conviction of selling a huge amount of Bitcoin worth over $ 2 million in nominal terms. a business that transmits money without a license (the company goes underground).

Accordingly, William Green, 46, was charged with several other executives on the money transfer business without his license, will have to appear in court in the future. And with the behavior he has caused, this man is likely to face a five-year prison sentence.

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William Green, 46, will face a maximum sentence of 5 years in prison

According to the documents submitted by the investigating agency to the court, the business that William Green 'lends' nominally to carry out the act of selling illegal Bitcoin is in fact Bitcoin Destination - an online money trading site. , allowing him to convert customers' Fiat deposits into Bitcoin, thereby eating a small difference.

Unfortunately for Green, the US federal law stipulates that any individual possessing or controlling a currency trading business, whether online or offline, must be registered. License to operate with the Ministry of Finance - including cases that want to trade or convert Bitcoin as well as any other virtual currency to cash.

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US law requires that currency trading companies are required to register operating licenses with the Ministry of Finance

As a professional virtual money trader, William Green naturally knows this rule in the palm of his hand. However, he did not but did not comply but also tried to circumvent the law in the form of switching between electronic currencies and eating the difference. Of course the price is not cheap at all, William Green is currently facing a maximum penalty of 5 years in prison and a fine of $ 250,000 (approximately 5.8 billion VND).

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