ChainCatcher news, according to official documents, a federal jury in Massachusetts found 36-year-old Alan Joseph from Lancaster guilty of illegally operating a cryptocurrency exchange business on November 22.Prosecutors accused him of conducting at least four illegal cash-to-Bitcoin transactions between August 2020 and February 2021, including a suspicious transaction of $25,000. The court determined that Joseph violated federal law by converting cash from suspected counterfeit luxury goods transactions into Bitcoin without registering as a money transmission business.According to sentencing guidelines, money laundering can carry a maximum sentence of 20 years in prison, while illegally operating a money transmission business can result in a maximum of 5 years in prison, with each charge carrying a maximum fine of $250,000. The court is scheduled to deliver its sentence on February 24, 2025.