Bitcoin trader faces imprisonment and penalty

Bitcoin trader faces imprisonment and penalty

An Arizona resident, Joseph Kim, has been sentenced to imprisonment for fifteen months along with a fine of $1 million imposed by the U.S. CFTC. The accused operated a fraudulent Bitcoin and Litecoin scheme. Kim had been permanently restricted from involving in cryptocurrency trading. A CFTC official expressed that it reveals “the CFTC’s commitment to actively police the virtual currency markets.”