As the world now knows, Binance Holdings Limited, doing business as Binance.com (“Binance” or the “Company”), has entered into a plea agreement with the U.S. Department of Justice (“DOJ”)....more
11/27/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
CFTC ,
Consent Order ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
FinCEN ,
Guilty Pleas ,
International Emergency Economic Powers Act (IEEPA) ,
Money Laundering ,
Money Services Business ,
Office of Foreign Assets Control (OFAC) ,
Plea Agreements ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Suspicious Activity Reports (SARs)
On August 21, 2019, FinCEN issued an advisory (the “Advisory”) alerting financial institutions to various financial schemes and mechanisms employed by fentanyl and synthetic opioid traffickers to facilitate the illegal...more
8/30/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Convertible Virtual Currencies (CVCs) ,
Cross-Border Transactions ,
Depository Institutions ,
Digital Wallets ,
Drug & Alcohol Abuse ,
Drug Trafficking ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Money Services Business ,
Opioid ,
Prescription Drugs ,
Risk Management ,
Suspicious Activity Reports (SARs)
Some Answers — Producing Even More Questions -
On May 9, 2019, the Financial Crimes Enforcement Network (“FinCEN”) published a comprehensive “interpretive guidance” (the “Guidance”) to “remind” businesses and individuals...more
5/31/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Convertible Virtual Currencies (CVCs) ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Digital Wallets ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Interpretive Rule ,
Money Services Business ,
Money Transmitter ,
Peer-to-Peer ,
Risk Assessment ,
Token Sales
First Post in a Two-Part Series -
Recent actions in the crypto realm demonstrate that authorities and regulators have not slackened their commitment to applying and enforcing Anti-Money Laundering (“AML”) laws and...more
5/10/2019
/ BitLicense ,
BSA/AML ,
Cryptocurrency ,
Currency Transaction Reports (CTR) ,
Darknet ,
Enforcement Actions ,
Money Laundering ,
Money Services Business ,
NYDFS ,
Peer-to-Peer ,
Risk Assessment ,
Suspicious Activity Reports (SARs) ,
Virtual Currency
As we previously have blogged, the Financial Crimes Enforcement Network (“FinCEN”) became one of the first regulators to wade into the regulation of cryptocurrency when it released interpretive guidance in March 2013 stating...more
3/9/2018
/ AML/CFT ,
Bitcoin ,
Blockchain ,
Broker-Dealer ,
CFTC ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Instruments ,
Financial Markets ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Interpretive Rule ,
Money Services Business ,
Money Transmitter ,
Mutual Funds ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency