A 22-year-old man has been sentenced to two years in prison for selling unlicensed bitcoins. His crime was operating a bitcoin exchange without registering with the Financial Crimes Enforcement Network of the US Department of Treasury.

Jacob Burrell Campos, a US citizen and Mexico resident, has been held in custody without bail since August 2018. He pleaded guilty in October 2018, admitting that he employed no anti-money laundering measures and didn’t check up on details about his customers and where their money came from.

Burrell wasn’t accused of explicitly committing criminal activities such as stealing or scamming clients, but simply having an unlicensed exchange was enough to earn him two years in prison. Burrell advertised his…

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The Verge – Tech Posts


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