22-year-old gets 2 years in jail for illegally selling hundreds of thousands in Bitcoin

A 22-year-old man in the US has been sentenced to two years in prison for selling hundreds of thousands of dollars in Bitcoin through an unlicensed money transmitting business. Jacob Burrell Campos, who had been in custody without bail since he was arrested in August last year, was also forced to forfeit $823,357 in illicit profits. He plead guilty on October 29, admitting he had operated a Bitcoin exchange without previously registering the business with the Financial Crimes Enforcement Network (FinCen) of the US Department of Treasury. He also admitted he had not implemented the necessary anti-money laundering procedures (AML). “Today’s…

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