Bitcoin seller faces 5 years in prison in the US for not having a license

Charlie Taylor

Coingoback" srcset="https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1.jpg 700w, https://cointimes.com.br/wp-content/ uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-150x32.jpg 150w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-585x125.jpg 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;"/>A New Orleans resident has been accused of selling bitcoin without registering with FinCEN, the US Financial Crimes Combat Network. If convicted, the seller faces a maximum of five years in prison, a maximum fine of $250,000 (about 7.95 BTC) and up to three years of supervised release.

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“These businesses include those that trade fiat currency like US dollars for cryptocurrency like bitcoin, litecoin and ethereum. These companies must register with the Financial Crimes Enforcement Network (‘FinCEN’) as money transmission companies.”

Yusko was the owner and manager of Nervous Light Capital LLC, court documents show. “He used Nervous Light Capital, along with the bank accounts of four other companies, to sell bitcoin and other cryptocurrencies to customers,” noted the DOJ. , observing:

"If convicted, Yusko faces a maximum of five years in prison, a maximum fine of $250,000, up to three years of supervised release and a mandatory $100 special assessment."

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