DOJ Charges Seller of Crypto for Not Having a License

Last Updated: August 26, 2021

Bobby

Bobby

Department of Justice
EarthWeb is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

The justice department in the U.S. has charged a man in New Orleans for operating a money transmitting business that’s illegal. Allegedly, Michael Yusko III over two years used bank accounts to sell cryptocurrency and make a profit. He did this through bank accounts associated with a business that he owned.

cryptocurrency

Yusko didn’t comply with registration requirements related to federal money transmitting. Any money transmitting business in America needs to register with the Financial Crimes Enforcement Network.

Written by Bobby

Latest Stories

Get the latest from EarthWeb!

Don't worry, we don't spam