On July 18, 2018, the Financial Action Task Force (“FATF”), published its report to the July 2018 G20 Finance Ministers and Central Bank Governors’ meeting. The report sets out FATF’s ongoing work to fight money laundering...more
7/26/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
EU ,
FATF ,
FinCEN ,
G20 ,
Money Laundering ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Token Sales ,
Virtual Currency
In a recently published letter to the Senate Finance Committee, FinCEN confirmed that when an ICO token is a “convertible virtual currency,” administrators or exchangers of the token would be “money transmitters” under...more
3/14/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Cryptocurrency ,
Financial Institutions ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Interpretive Letters ,
Money Services Business ,
Money Transmitter ,
Regulatory Requirements ,
Token Sales ,
Virtual Currency
Federal authorities announced this week a settlement with Ripple Labs Inc. and its subsidiary, XRP Fund II, resolving an investigation by FinCEN and the Department of Justice into violations of the Bank Secrecy Act. ...more