Tagged: kenneth blanco

April 11, 2021 @ 3:36 pm By JD Alois  |  

Several months ago, FinCEN submitted for publication in the Federal Register its Notice of Proposed Rulemaking (NPRM) regarding certain transactions that involve virtual currency or digital assets. FinCEN or the Financial Crimes Enforcement Network is a bureau of the US Department of the Treasury that… Read More

May 16, 2020 @ 5:50 pm By JD Alois  |  

FinCEN Director Kenneth A. Blanco delivered a speech at virtual Consensus this past week addressing several hot topics of the day – including the “Travel Rule”; the FATF requirement that virtual asset service providers (or VASPs – think crypto exchanges) maintain information on purchasers and… Read More

February 25, 2020 @ 8:44 am By JD Alois  |  

Last week, 50 senior officials convened in Paris to discuss “global issues surrounding virtual assets.” Participants included FinCEN, part of the US Department of Treasury, as well as the Financial Intelligence Unit Germany, France’s Tracfin, and other FATF countries. Virtual asset experts from the Financial… Read More

November 28, 2019 @ 10:18 am By Omar Faridi  |  

CipherTrace, an established crypto and blockchain intelligence company, has published its Q3 2019 Cryptocurrency Anti-Money Laundering (AML) report. The report addresses “cryptocurrency regulation, nefarious actors within the ecosystem, impending legislation, international trends and prevailing sentiments,” according to a press release shared with CrowdFund Insider. The… Read More

November 16, 2019 @ 8:48 am By Omar Faridi  |  

The US government will reportedly be enforcing a rule which requires companies dealing in cryptocurrencies, including digital asset wallet providers and exchanges, to share details about their clients. This, according to Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN). The “travel rule” for… Read More

August 18, 2019 @ 2:48 pm By Cali Haan  |  

America’s federal financial crimes enforcement agency, FinCEN, has noticed “a gap” in the reporting of illicit use of cryptocurrencies at casinos and card clubs in recent years, the agency’s director told attendees at the 12th Annual Las Vegas Anti-Money Laundering Conference this week. Director Kenneth A…. Read More

July 2, 2019 @ 11:14 am By Cali Haan  |  

FinCEN Director Kenneth A. Blanco told an audience at the  NYU Law Program on Corporate Compliance and Enforcement earlier this month that his agency is receiving 1500 reports of suspicious transactions involving cryptocurrencies per month- 500 more than it receives regarding regular transactions. Blanco has… Read More

April 20, 2019 @ 10:08 am By Cali Haan  |  

The Financial Crimes Enforcement Network (FinCEN), part of the US Department of Treasury, has fined the operator of a peer-to-peer cryptocurrency trading service $35,350 USD and barred him from money-transmitting, “for willfully violating the Bank Secrecy Act’s (BSA) registration, program, and reporting requirements.” In a release… Read More

August 10, 2018 @ 6:55 pm By JD Alois  |  

This week, at an event in Chicago that focused on legal questions swirling around the emerging cryptocurrency industry, FinCEN Director Kenneth Blanco delivered a much anticipated speech regarding his agency’s thoughts on digital assets and virtual currencies. FinCEN is part of the US Department of… Read More