Brent Kovar, the owner of a Las Vegas-based company called Profit Connect, faces a statutory maximum sentence of 280 years in federal prison after being convicted of running a $24 million cryptocurrency Ponzi scheme.
The United States has escalated its financial pressure campaign against Iran by expanding sanctions to encompass the country's entire digital asset sector.
Treasury Department has significantly expanded its financial sanctions regime against Iran, now explicitly targeting the country's cryptocurrency sector as part of a broader economic crackdown.