Morgan Rockoons will serve 21 months in federal prison for his activities, which also included a bitcoin (BTC)-based real estate fraud scheme. Rockoons began operating an allegedly outright criminal business, “Bitcointopia,” offering land which never existed in return for bitcoin.
Source. He should really go to jail for scamming people out of their hard-earned bitcoin supposedly in exchange for land that actually only existed in his own imagination. Just because we are dealing with bitcoin or cryptocurrency is not an excuse never to know how the law of the country works. I think this information as to the license needed is already available easily to anyone. Ignorance or just being a hard-headed jerk can have big repercussions that anyone could have avoided if the guy is just using his own common sense and not relegated honesty to the background.
