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NH Man Fined $3.5M for Bitcoin Scheme Fraud

A federal judge has ordered Ian Freeman to pay $3.5 million in restitution to 29 victims for operating an unlicensed Bitcoin exchange business. This highlights the need for cryptocurrency regulation and the consequences of operating unlicensed financial businesses. Ongoing appeal will shape the future of cryptocurrency regulation.

by John Darbie
Wed, Feb 14, 2024 5:03am
in Bitcoin
• 2 mins read
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NH Man Fined .5M for Bitcoin Scheme Fraud | FinOracle

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New Hampshire Man Ordered to Pay $3.5 Million for Unlicensed Bitcoin Operation

In a landmark ruling, a federal judge in New Hampshire has mandated Ian Freeman, convicted of orchestrating an unlicensed bitcoin exchange business, to disburse over $3.5 million in restitution to 29 victims. This significant legal decision underscores the intensifying oversight on cryptocurrency operations and the urgent call for regulating digital financial activities to protect consumers from frauds and financial losses.

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