I thought crypto markets were unregulated but on the other hand a fraud is a fraud no matter what form it is in. And money laundering is a kind of a joker card. You can pretty much arrest anybody with this accusation.
Is there even one crypto business out there can prove that they not laundering money? It is impossible.
The guy had this coming when he started to promote shitcoins for money though. He wasn't a saint.
For the most part current regulations that apply to the stock markets should apply to the market of cryptocurrencies, governments have refused to acknowledge this on the law because they do not want to give legitimacy to the market, but since now they are realizing there is no way to stop this market they might as well apply those laws, we will have to see what comes from the accusations however we know for a fact that he promoted altcoins and if he sold his coins just after telling everyone to buy and used insider information so he could know the best moment to do this then he is most likely guilty of a crime and they could make an example out of him and send him to jail.