FinCEN

Regulation

FinCEN: Stablecoin Issuers Are Money Transmitters, No Matter What

“Just because you say you are a banana doesn’t make you a banana,” said Director Blanco.

Policy & regulation  ·  19 November 2019
Binance

Huobi Global Is Forcing US Customers to Use Its Local Partner

The move finalizes Huobi’s shuttering of US. accounts as as it continues to push users to its San Francisco-based partner exchange, HBUS.

Markets  ·  4 November 2019
FinCEN

FinCEN Director Warns of ‘Hard Time’ for Crypto Firms That Don’t Follow Law

There is no ambiguity: crypto startups must follow U.S. AML laws or suffer the consequences, said FinCEN's Kenneth Bianco.

Markets  ·  22 October 2019
Regulation

SEC, CFTC, FinCEN Warn Crypto Industry to Follow US Banking Laws

The heads of three U.S. financial regulators warned the crypto industry to abide by banking laws in a joint statement published Friday.

Policy & regulation  ·  11 October 2019
Crime

US House Passes Bill for FinCEN to Study Blockchain Use

The House of Representatives passed legislation calling for FinCEN to study its use of “innovative technologies” — including blockchain.

Policy & regulation  ·  24 September 2019
FinCEN

FinCEN Director Reminds Casinos of Crypto Compliance Requirements

FinCEN director Kenneth Blanco said that suspicious activity reports detailing crypto fraud is a matter of national security.

Markets  ·  16 August 2019
BTC-e

Prosecutors File Formal Complaint Against Infamous BTC-e Crypto Exchange

Prosecutors have filed a complaint against the infamous crypto exchange BTC-e calling a haven for crime.

Markets  ·  26 July 2019
Regulation

US Lawmakers Question Terrorist Use of Facebook Cryptocurrency

U.S. lawmakers questioned FinCEN director Kenneth Blanco about potential terrorist use of Facebook's libra cryptocurrency.

Policy & regulation  ·  27 June 2019
Regulation

FinCEN Says Some Dapps Are Subject to US Money Transmitter Rules

Decentralized applications (dapps) may sometimes qualify as money transmitters under U.S. law, FinCEN said.

Policy & regulation  ·  9 May 2019
Regulation

In First, FinCEN Penalizes Bitcoin Trader for Violating AML Laws

U.S. regulator FinCEN has for the first time penalized a cryptocurrency trader for breaking anti-money laundering rules.

Policy & regulation  ·  19 April 2019
Exchanges

FinCEN Blasts Iran’s ‘Malign’ Use of Crypto to Bypass Economic Sanctions

U.S. regulator FinCEN is urging domestic exchanges to prevent Iran from using cryptocurrency to bypass economic sanctions.

Policy & regulation  ·  12 October 2018
ICO

FinCEN Says It Now Receives 1,500 Crypto Complaints a Month

FinCEN receives more than 1,500 reports every month from financial institutions regarding cryptocurrencies, a top official said Thursday.

Markets  ·  10 August 2018
Cryptocurrency

US Lawmakers Want FinCEN Mandate to Explicitly Cover Crypto

A new bill facing the U.S. Congress would have FinCEN more closely examine the cryptocurrency space, according to public documents.

Policy & regulation  ·  25 July 2018
Regulation

FinCEN: Money Transmitter Rules Apply to ICOs

According to a letter released today, FinCEN believes that companies launching token sales qualify as money transmitters, and must register as such.

Policy & regulation  ·  6 March 2018
FinCEN

Treasury Official: Department Working With IRS to Police Crypto Exchanges

U.S. Treasury Department Deputy Sigal Mandelker explained how the department would regulate cryptocurrency exchanges in testimony before the Senate.

Markets  ·  17 January 2018