FinCEN

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‘Doctor Bitcoin’ Pleads Guilty to Running Illegal Crypto Exchange in US, Faces 5 Years in Prison

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A Texas man, who calls himself “Doctor Bitcoin,” has pleaded guilty to running an illegal cryptocurrency exchange business, converting cash to bitcoin. He faces five years in federal prison. Crypto Exchange Operator Pleads Guilty The U.S. Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, has pleaded guilty to “illegally operating … Read more

US Man Selling Bitcoin Without License Faces 5 Years in Prison

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A New Orleans resident has been charged for selling bitcoin without registering with the Financial Crimes Enforcement Network (FinCEN). If convicted, the seller may receive a maximum of five years in prison, a maximum $250,000 fine, up to three years of supervised release, and a $100 mandatory special assessment. Bitcoin Seller Faces Jail Time The … Read more

US Regulators Have Imposed $2.5 Billion Penalties on Crypto Firms and Individuals

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A new report shows that U.S. regulators have imposed fines and penalties totaling $2.5 billion on crypto firms and individuals so far. The U.S. Securities and Exchange Commission (SEC) has imposed the most fines, followed by the Commodity Futures Trading Commission (CFTC). Meanwhile, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) is the latest … Read more

Report Claims the FBI Uses Bitcoin Mixers During BTC Forfeiture Processing

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Over the last eight years, U.S. law enforcement has seized a great number of bitcoins and at one time, the Federal Bureau of Investigation (FBI) held one of the largest bitcoin wallets after the Silk Road takedown. A recently published report shows the FBI has started using cryptocurrency mixing applications in recent times in order … Read more