Digital currency trading had grown in recent time in addition to money laundering activities. U.S. authorities had tightened their grip to arrest the individuals carrying out the Ponzi schemes and illegal activities.
Recently, U.S. experts had put criminal allegations against a LocalBitcoins trader regarding masterminding an unlicensed cash transmission business, as stated by the official statement.
As uncovered by the U.S. Lawyer’s Office for the Southern District of California, Las Vegas inhabitant Morgan Rockoons will be charged for his illegal exercises, which additionally incorporated a Bitcoin [BTC] related land misrepresentation conspire.
Having neglected to enlist himself as a cash transmitter with the Financial Crimes Enforcement Network [FinCEN], Rockoons fell in the radar of San Diego law enforcement team. He was regarded as the greatest volume generating trader in the zone.
The report from officials said,
“Victims who sent Rockoons Bitcoin never received their title to land as promised. To date, agents have identified at least 10 victims of Rockoons’ fraud“.
Bitcoin [BTC] trading without registering oneself is a strict offense that might lend the offender behind bars. This step was taken by the U.S. regulatory body in order to stop the growing illegal activities, hacks and Ponzi schemes and also to safeguard the interests of the citizens.
After the G20 Summit, world leaders are going to take stricter rules and regulations for controlling the actions of the exchanges. This will help the users to safeguard their invested capital used for investment purposes.
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