French Crypto Trader Jailed After Buying Ferrari Bitcoin

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French citizen Thomas Clausi bought a Ferrari illegally in Morocco using Bitcoin and was arrested in 2021.

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The Casablanca Court of Appeals sentenced Clausi to 18 months in prison and a $3.7 million fine in October 2022.

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Clausi's appeal against the sentence was unsuccessful, and he will spend slightly over a month in jail to complete the sentence.

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Morocco banned the holding and trading of cryptocurrencies in 2017, and Clausi's case appears to send a message to would-be crypto users.

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Clausi was accused of fraud by a French woman who sold him the Ferrari and a Moroccan citizen, who accused Clausi of signing a fraudulent check to buy their watches.

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The court ordered Clausi to pay the watch owner 3,900 euros in addition to his prison sentence and fine.

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Despite the ban, Morocco ranks 14th in the world for crypto adoption based on five factors, according to a 2022 Global Crypto Adoption Index by Chainalysis.

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