A new proposal would subject financial institutions and exchanges to onerous recordkeeping and reporting requirements for certain digital currency transactions.
In a surprise release in the waning days of the Trump...more
1/15/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Cryptocurrency ,
Digital Assets ,
Ether ,
Financial Institutions ,
FinCEN ,
Money Services Business ,
National Security ,
NDAA ,
Popular ,
Recordkeeping Requirements ,
Reporting Requirements ,
Terrorism Funding ,
Virtual Currency
Expanded compliance obligations will have far-reaching implications for regulated financial institutions and most companies operating in the US.
On January 1, 2021, Congress overrode President Trump’s veto and enacted the...more
1/6/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
Congressional Override ,
Corporate Counsel ,
Financial Institutions ,
FinCEN ,
Foreign Banks ,
NDAA ,
Patriot Act ,
Presidential Veto ,
Suspicious Activity Reports (SARs) ,
Whistleblower Protection Policies
What is cryptocurrency?
There is no one standard definition of cryptocurrency. At the most basic level cryptocurrency—or digital currency or virtual currency—is a medium of exchange that functions like money (in that it...more
In a brief — and swiftly decided — per curiam decision issued June 4, 2015, the US Court of Appeals for the Second Circuit affirmed the wire fraud and wire fraud conspiracy convictions of three former UBS Financial Services,...more