Donald G. Greene III had no license to operate a currency exchange and did so to avoid paying fees associated with currency exchanges, according to court records. He kept about 12% to 28% of each transaction for himself, according to authorities.
Greene operated the bitcoin exchange from about February to September 2022. He had five main clients, all from India, who funneled him $3 million to exchange, according to court records. The second option allowed Greene to avoid paying transaction fees from the banks and prevented them from detecting that he was operating a money transmitting business, according to court records.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: