FinCEN

FATF

Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations

From shorter consultations to insider comments, recent rumors about U.S. regulation of private crypto wallets have some compelling context.

Policy & regulation  ·  27 November 2020
FATF

Why FinCEN Wants Details on All Cross-Border Transactions Over $250

At an event Monday, FinCEN staffers discussed the “why” of a new proposal that has crypto fans concerned.

Policy & regulation  ·  16 November 2020
Zcash

ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns

XMR, DASH and ZEC "were delisted at the same time for the same reason – to further derisk the company from a regulatory standpoint."

Business  ·  10 November 2020
PayPal

PayPal-Backed Blockchain Analytics Firm Hires Former US Treasury Adviser

TRM Labs, a blockchain analytics firm with backing from PayPal, is adding Ari Redbord as its head of legal and government affairs.

Business  ·  26 October 2020
Federal Reserve

US Moves to Cast a Wider Net for Catching Money Launderers, Crypto or Otherwise

The Fed and the Financial Crimes Enforcement Network want to lower the threshold for reporting financial transactions and make sure crypto is included.

Policy & regulation  ·  23 October 2020
FinCEN

FinCEN Fines Bitcoin-Mixing CEO $60M in Landmark Crackdown on Helix, Coin Ninja

Larry Dean Harmon ran the first bitcoin mixing services targeted with criminal allegations by U.S. authorities.

News  ·  19 October 2020
Ransomware

FinCEN Warns on Ransomware Attacks, Notes Increased Targeting of Government Entities

Ransomware attackers use malicious software to block access to data and demand ransom in return, oftentimes deploying the threat to make proprietary data public.

Policy & regulation  ·  1 October 2020
Coronavirus

FinCEN Warns on Coronavirus Scams Demanding Crypto

FinCEN is warning cybercriminals are exploiting the COVID-19 pandemic, and asks firms to be especially vigilant regarding their dealings with virtual currencies.

Policy & regulation  ·  31 July 2020
Travel Rule

Less Than 1% of FinCEN’s Suspicious Activity Reports Since 2013 Mentioned Crypto

More than 70,000 crypto-related SARs had been filed with FinCEN since 2013, director Kenneth Blanco said Wednesday.

News  ·  13 May 2020
Exchanges

Singapore Crypto Exchange Eyes US Expansion After Registering With FinCEN

Singapore-based Bitget has registered with the U.S. Treasury Department as a money services business, the first step to launching operations in the country.

News  ·  30 March 2020
Regulation

Canada’s Financial Crimes Watchdog Gets Ready for FATF Compliance

Canada’s financial crimes watchdog is preparing to implement its broad new virtual currency oversight powers ahead of the Financial Action Task Force’s June 2020 deadline.

Policy & regulation  ·  18 March 2020
FinCEN

US Financial Crimes Watchdog Preparing ‘Significant’ Crypto Rules, Warns Treasury Secretary Mnuchin

U.S. Treasury Secretary Steven Mnuchin said FinCEN is preparing "significant new requirements" around cryptocurrencies to tamp down illicit activity.

News  ·  12 February 2020
Facebook

FinCEN: Social Media Companies That Tokenize Must Follow the Law

Social networks with crypto aspirations must guard their systems against criminal exploitation, said FinCEN's deputy chief.

Policy & regulation  ·  7 February 2020
Binance

Poloniex Drops KYC for Withdrawals Below $10,000 Following US Exit

The new KYC requirements come a week after Poloniex completed its U.S. exit.

News  ·  23 December 2019
Regulation

FinCEN Sees Jump in Crypto-Related Suspicious Activity Reports

Crypto companies have filed 7,100 Suspicious Activity Reports since May, America’s anti-money-laundering chief said at a banking conference Tuesday.

Policy & regulation  ·  10 December 2019