# New Jersey Man Admits To Running Unlicensed Bitcoin Exchange By Coinness Canonical URL: https://www.tokenpost.com/news/investing/7957 Published: 2021-04-06T01:57:03.000Z Updated: 2021-04-06T01:57:03.000Z Section: Investing > A New Jersey man pleaded guilty in federal court to running the defunct crypto exchange “Destination Bitcoin” without proper licensure. 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. [Coinness]() ## Links in this article - [Coinness](https://coinness.com)