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California man to serve three years in federal prison for illegal bitcoin exchange and money laundering

California man to serve three years in federal prison for illegal bitcoin exchange and money laundering

advertisement A California man who in February agreed to plead guilty to felony charges of money laundering and operating a crypto exchange without proper licensure has been sentenced to three years in federal prison, according to a release from the U.S. Department of Justice. As The Block previously reported, Hugo Sergio Mejia operated a Bitcoin-to-cash …

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Crypto exchange Binance says it will no longer serve Ontario users

Crypto exchange Binance says it will no longer serve Ontario users

Crypto exchange operator Binance is exiting the Canadian province of Ontario amid a regulatory crackdown there. Binance announced Friday that all Ontario-based users must close out all active positions by December 31, 2021. The Ontario Securities Commission has begun taking legal action against unregistered crypto exchanges in recent weeks, including against Bybit, Poloniex, and Kucoin. …

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IRS wins court approval to serve Kraken with a request for customer information

IRS wins court approval to serve Kraken with a request for customer information

After a denial last month, a federal court in the Northern District of California has authorized the Internal Revenue Service (IRS) to serve an information request to Kraken. The IRS will serve the crypto exchange with a John Doe summons, which requests user information to identify crypto holding taxpayers. The Department of Justice announced the …

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