【US Accuses Businessman of Operating Unlicensed Cryptocurrency and Fiat Currency Exchange】Golden Finance reports that the US Department of Justice (DOJ) announced that Florida businessman Christopher James Scanlon is facing federal charges for allegedly operating an unlicensed cryptocurrency and fiat currency exchange. Christopher James Scanlon, from Utah, was arrested on October 10 at Miami International Airport and subsequently pleaded not guilty in Newark federal court. According to the indictment, Christopher James Scanlon, CEO of Aurae Lifestyle and Club Swan, managed entities such as PMA Media Group and AU Card LLC, which provide cryptocurrency and traditional financial services. Prosecutors claim that these businesses never registered as money transmitters with FinCEN as required by federal law. The US Department of Justice notes that conspiracy charges can carry a maximum sentence of five years in prison and a maximum fine of $250,000, or twice the defendant's economic gain or the victim's economic loss, whichever is greater.
