New Jersey Man Admits To Running Unlicensed Bitcoin Exchange

A New Jersey man pleaded guilty in federal court to running the defunct crypto exchange “Destination Bitcoin” without proper licensure.

William Green, 53, told a federal judge he illegally converted clients’ cash into crypto between August 2017 and February 2019. He pleaded guilty Monday to running an unlicensed money-transmitting business.

The guilty plea wraps up an Internal Revenue Service (IRS) investigation into Green’s crypto business that began in December 2018 and led to a criminal indictment eight months later. Agents brokered an undercover deal with Green that ultimately led to his arrest.

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