When I reflect on my journey through the justice system, I realize how critical it is to share the full context behind my case — something the headlines and court documents often fail to do.
I came to this country as a child, escaping hardship with my family in search of opportunity.
Through hard work and perseverance, I built businesses, raised a family, and embraced the American dream.
Entrepreneurship was always a part of my life, and in 2017, I began exploring the emerging world of Bitcoin — a new frontier that few truly understood at the time, including regulators themselves.
With good faith intentions, I incorporated two businesses: National Vending LLC and Digital Assets LLC. National Vending was originally envisioned as a vending machine business, with plans to expand into Bitcoin kiosks.
Digital Assets LLC was registered with FinCEN as a money services business, intended to provide over-the-counter cryptocurrency services. I also proactively contacted the Massachusetts Division of Banks for guidance, and was told that no additional state-level licensing was required for my activities.
From the beginning, I sought to operate responsibly within an extremely unclear and evolving regulatory environment.
However, my case ultimately revolved around the use of Bitcoin — not traditional vending. In retrospect, the laws around cryptocurrency were new, ambiguous, and largely undefined when my business activities began.
Yet I was prosecuted aggressively, treated as a criminal rather than someone who had attempted to comply with the limited information available.
Throughout the trial, several important facts came to light that were not emphasized publicly:
Three individuals who prosecutors called “romance scam victims” all testified under oath that they lied to me during the Know Your Customer (KYC) process, provided their IDs, and affirmed their transactions were legitimate. Critically, none of them even knew they were victims of a scam themselves until law enforcement later informed them. If they did not know, how could I?
One of the government’s key cooperating witnesses was Jacob Macquarrie, a convicted methamphetamine dealer with a lengthy criminal history and a documented pattern of substance abuse. Importantly, I had no prior relationship with Mr. Macquarrie before our business interactions. During his Know Your Customer (KYC) vetting process, he provided a government-issued ID and represented himself as a professional chef and poker player — not a criminal. Over time, he changed his story to suit his own interests in obtaining a reduced sentence. We transacted a total of ten times. During one of his early proffer sessions with prosecutors, Macquarrie claimed he had “flashed a gun” at me during our first meeting — yet on the witness stand, he admitted he was not even sure if I ever saw a weapon. His own story contradicted itself under oath. Logic also dictates: if someone truly flashed a firearm during a first meeting, no reasonable person would continue engaging in cash transactions with them. Furthermore, Macquarrie testified that he told me about his methamphetamine trafficking only after the fifth transaction. According to his version, he disclosed this illegal activity because he “didn’t want me to think he was a thief” — a claim that defies basic common sense. No drug dealer would voluntarily admit to felony crimes to a stranger during financial transactions, especially after providing his real identification. His testimony lacked credibility, coherence, and any supporting evidence.
My home and business were raided aggressively in 2021 — with agents arriving in armored vehicles, machine guns drawn — despite the nonviolent nature of the allegations. Despite this excessive show of force, the government later suppressed the evidence from the home raid and chose not to use it at trial.
I was acquitted on a major count involving government sting operations and alleged money laundering, after the jury recognized the problems with the government’s entrapment strategy.
In preparation for my defense, we retained Jimmy Johnson, a retired 28-year FBI agent and former senior investigator for Coinbase, one of the largest and most respected cryptocurrency platforms in the world. Mr. Johnson conducted a thorough review of my business practices and was prepared to testify that I followed robust compliance procedures, including maintaining thousands of KYC documents, transaction records, and internal policies designed to ensure legitimate operations. His testimony would have demonstrated that I was operating in good faith, not with criminal intent. Despite his impeccable qualifications and the relevance of his findings, the Court excluded Mr. Johnson from testifying. This left the jury without the opportunity to hear critical evidence supporting my efforts to comply with industry best practices and government guidance at the time. I was effectively denied the chance to fully present my defense.
The overarching theme of my case was one of prosecutorial overreach. What began as an entrepreneurial effort to bridge traditional finance and emerging digital assets was retroactively treated as criminal activity, even though I tried to follow the rules as best I understood them.
Since my conviction, I have focused on rebuilding my life and using this experience as fuel for growth:
I earned a Bachelor’s degree from the University of Metaphysics, became an ordained minister, and founded a platform dedicated to mental conditioning, self-actualization, and sovereign living.
I dedicated myself to fitness and mental resilience, drawing inspiration from Stoic philosophy and high-discipline calisthenics training.
I learned digital skills, including search engine optimization and cryptocurrency education, positioning myself to contribute positively to society.
Importantly, the world has changed since my case began. In April 2025, Deputy Attorney General Todd Blanche issued a directive disbanding the DOJ’s National Cryptocurrency Enforcement Team, acknowledging that prior approaches to cryptocurrency enforcement — including “regulation by prosecution” — were misguided and unjust. The memo recognized that aggressive criminal enforcement in a rapidly evolving and unclear regulatory environment hurt innovation and fairness.
The very landscape in which I was prosecuted is now being corrected.
Despite the enormous challenges, I remain committed to moving forward with integrity. I have used this experience as an opportunity for growth, to reflect deeply, and to find ways to contribute positively to others. Through my work with Prison Professors, I have developed educational programs to help justice-impacted individuals pursue entrepreneurship and build new lives. I am committed to continuing to improve myself and to make positive contributions to my family, community, and society at large. I accept full responsibility for my future, and I am determined to honor the values that brought my family to America — hard work, integrity, and perseverance.
This journal entry is part of my effort to memorialize my true story — so that those who encounter my name will have the full context and can see me not simply by the charges that were filed, but by the broader truth of my character and my actions.
Thank you for reading.
– Trung Nguyen
