Published on July 11th, 2018 | by bitcoin0
A one year prison term was handed down to a local bitcoins trader
A Southern Californian Localbitcoins trader has been sentenced to prison for a year for unlicensed money transmitting and money laundering.
The trader, Bitcoin Maven, reportedly exchanged between $6 and $9.5 million for customers across the country, according to the notice by the U.S. Department of Justice.
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One Year in Prison for Localbitcoins Trader
The U.S. Department of Justice (DOJ) announced on Monday that Theresa Lynn Tetley, also known as Bitcoin Maven, has been sentenced to one year in federal prison.
The DOJ explained that Tetley offered bitcoin exchange services without registering with the Financial Crimes Enforcement Network (Fincen) as a money services business.
He urged Congress to consider additional legislation to address anonymity-enhanced cryptocurrencies and services intended to obscure transactions on blockchains.