A resident of Texas admitted to the conduct of an unregistered business exchange business - Bits Media

Texan Mark Hopkins (Mark Hopkins), known under the pseudonym "Doctor Bitcoin", pleaded guilty to organizing an illegal money exchange business, including cryptocurrencies.

According to a statement from the U.S. Department of Justice, Hopkins received Commission for cash exchange for bitcoins. At the same time, he did not check the source of customer funds, as well as did not carry out the necessary procedures to identify users. He admitted, that he did not receive a license to carry out activities to exchange money and did not register his company.

According to the Rules for the Network for Combating Financial Crimes of the United States (FinCEN), Company, exchanging money, including cryptocurrencies, must comply with the requirements for laundering. Also, such companies should inform the regulator about suspicious transactions in the amount from above $2 000.

As it became known to investigators, In addition to the unregistered business, Hopkins helped one of the clients exchange money, obtained in lottery fraud in Nigeria. The client with the help of "Doctor Bitcoin" made 37 transactions for the amount "from $550 000 to $1.5 million ". The court sentenced Mark Hopkins to five years in prison.

Recall, that earlier a resident of New Jersey William Green (William Green) admitted to launch an illegal cryptocurrency exchanger called Destination Bitcoin.