In late April, at the government’s request, an Indiana federal judge put a final end to the prosecution of an Indiana man for allegations that he engaged in unlicensed money transmission (and related tax offenses) in connection with his operation of a virtual currency exchange from 2009 to 2013. The case represents a relatively rare instance in which a court granted a pretrial motion to dismiss charges related to unlicensed money transmission, although the impact of the decision may be limited to cases from 2013 and earlier—the year that FinCEN issued key guidance on the topic. The case has also attracted attention for what it may signal about DOJ’s digital asset enforcement priorities.
Charges Dropped Against Early Cryptocurrency Exchange Operator
