SEC charges former bitcoin exchange with fraud while owner is arrested

The Securities and Exchange Commission (SEC) has charged a former bitcoin-denominated platform and its operator with operating an unregistered securities exchange and defrauding customers, while the Department of Justice arrested the operator for perjury and obstructing justice.

The SEC has brought charges in the federal district court in Manhattan against Jon E. Montroll (also known as "Ukyo") and BitFunder, an unregistered bitcoin-denominated securities exchange, for violations of the anti-fraud and registration provisions of the federal securities laws.

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