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Federal Agencies Targeting Cryptocurrency Fraud in the US
Cryptocurrency fraud is a criminal offense and can lead to severe punishment, including steep fines and a prison sentence. Several federal agencies like the Federal Investigations Bureau (FIB), Department of Justice (DOJ), Securities and Exchange Commission (SEC) continue to investigate individuals and organizations suspected of engaging in cryptocurrency fraud.
As digital currencies gain popularity among investors worldwide, laws are being made to regulate their use. However, no clear laws governing cryptocurrency are currently present. Thus, for now, cryptocurrency fraud allegations in the United States are prosecuted under common criminal statutes.
Cryptocurrency Defense Lawyers
Cryptocurrency defense lawyers usually represent various individuals facing allegations of digital currency-related offenses such as coders, company owners, and investment advisors or firms. Notable federal laws governing cryptocurrency include Mail Fraud, Computer Fraud Laws, Money Laundering Act Bank Secrecy Law, Tax Evasion Charges; Commodity exchange act SEC regulations & securities exchange 1934.
Common cryptocurrency fraud investigations
Several common types of cryptocurrency fraud allegations have become common since the Crypto hype started:
1. Fraudulent & Unregistered ICOs: Initial coin offerings work almost like initial public offers by mobilizing funds via crypto issuance tokens or coins for unregistered ICOs with no clear prospectus equal a form of securities scam that DOJ&SEC constantly targets.
2. Cryptocurrency Investment Scams?: Targets both illegal sales of cryptocurrencies as well as other forms of crypto-scamming activities.
3. Wrong Advice in Cryptocurrency : Cryptocurrencies create new challenges for Investment Advisors who offer crypto advice without considering the investor’s interests equal delayed information churning portfolios or overcharging fees.
4.Money Laundering via Cryptocurrencies
The Money laundering scams also operate alongside transnational Criminal Enterprises seeking individual organizations suspected using illicit activities masking them as legit since they offer anonymity.
Penalties for Cryptocurrency Fraud
The penalties of criminal convictions for cryptocurrency fraud vary depending on the specific statutes that underlie the charges. These penalties could extend to steep fines and a lengthy prison sentence, which could reach up to twenty years or more.
Table of Cryptocurrency Defense Lawyers in the US & their Location
| Cryptocurrency Defense Lawyers | Location | Contact Details |
| —————————————- | :———————–:| —————————–:|
| Silver Miller – Law Firm | Miami, FL | +1 305-697-9799 |
| David P. Shapiro Law Firm | San Diego, CA | +1 (619) 295-3555 |
| Juris LP Law Firm | Dallas, TX | 214-760-6037 |
| Cotchett, Pitre, and McCarthy | Burlingame |+1 (650) 697-6000 |
Final Take
Cryptocurrency Fraud is among one of the financial crimes under federal investigation that can be investigated by federal agencies such as DOJ, FBI and SEC; these agencies have increased scrutiny on this kind of fraud. Existing Laws like Mail Fraud, Computer F ra uds , among others are used when investigating cases; however each case carries weight differently with penalties ranging from high monetary penalties and lengthy periods in prison. For individuals facing any cryptocurrency allegations its advisable to work with trusted cryptocurrency attorneys who know their way around crypto regulations & defense.
Very diligent, organized associates; got my case dismissed. Hard working attorneys who can put up with your anxiousness. I was accused of robbing a gemstone dealer. Definitely A law group that lays out all possible options and alternative routes. Recommended for sure.
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NEW JERSEY CRIMINAL DEFENSE ATTORNEYS