The US Department of Justice (DOJ) announced that Florida businessman Christopher James Scanlon is facing federal charges for allegedly operating unauthorized cryptocurrency and fiat currency acceptance businesses. Christopher James Scanlon, from Utah, was arrested on October 10th at Miami International Airport and subsequently pleaded not guilty in Newark Federal Court. It is reported that from 2015 to 2019, Christopher James Scanlon represented high net worth clients in handling financial transactions, including so-called "off balance" cryptocurrency transactions, without regulatory approval. The US Department of Justice stated that the crime of conspiracy can result in a maximum sentence of five years in prison and a fine of up to $250000, or twice the economic gains of the defendant or the economic losses of the victim, whichever is greater. @tide