Not reporting crypto mining activity leads to $5000 fine by FINRA
- According to documents dated for Monday this week (June 10th), a former employee of Merril Lynch was fined by the United States FINRA (United States Regulatory Authority).
- FINRA was first informed about the mining activities once it checked the letter of acceptance, waiver, and consent that the employee had submitted beforehand.
- In order to have avoided the fine, Kim had to notify FINRA about his activities on a separate venture for mining cryptocurrencies while being employed in Merrill Lynch during his employment in 2017.
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