Money services businesses (MSBs), a category which includes money transmitters (e.g., PayPal and other payment facilitators), as well as administrators and exchangers of convertible virtual currencies (e.g., Bitcoin...more
Two recent federal enforcement actions—announced the same day—have underlined the need for crypto companies to carefully consider their anti-money laundering (AML) obligations or else risk significant penalties....more
President Biden launched an effort to establish a federal digital assets policy strategy and coordinate the related work of federal regulators by signing the Executive Order on Ensuring Responsible Development of Digital...more
3/16/2022
/ Biden Administration ,
Bitcoin ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Transactions ,
Investor Protection ,
Investors
Virtual currency businesses are under scrutiny by U.S. anti-money laundering (AML) regulators. Earlier this year, U.S Treasury Secretary Steven Mnuchin emphasized that virtual currencies are subject to AML regulations. He...more
4/4/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Compliance ,
Enforcement ,
Enforcement Actions ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
Money Services Business ,
Money Transmitter ,
Popular ,
Virtual Currency