Tagged: financial crimes enforcement network

December 22, 2020 @ 8:24 pm By Omar Faridi  |  

On December 19, 2020, the Financial Crimes Enforcement Network (FinCEN) published a 72-page notice of proposed or suggested rulemaking, titled “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets,” which could impose new and “onerous” reporting and recordkeeping requirements for virtual currency transactions,… Read More

December 19, 2020 @ 12:29 pm By Omar Faridi  |  

On December 18, 2020, the Financial Crimes Enforcement Network (FinCEN) published a proposed rule change for digital currency transactions with “unhosted” wallets. Under the newly proposed change, banking institutions, and money services businesses (MSBs) may be required to verify customers’ identities and turn in reports… Read More

February 14, 2020 @ 7:35 am By Omar Faridi  |  

Federal agencies and departments established within the US Justice Department and the Treasury Department are reportedly requesting that millions of dollars be allocated to support their oversight and enforcement efforts related to the cryptocurrency industry. US President Donald Trump’s administration introduced its $4.8 trillion budget… Read More