FinCEN News

The bill was introduced in the evening and has not been published yet, but it is already causing a stir. Crypto Twitter calls it a “nonstarter.”

The court left the issue of the subordinacy of government claims open; Bittrex received multimillion-dollar credits from FinCEN and OFAC.

Bittrex owes $29 million in penalties for sanctions violations and may still face penalties in a case brought by the SEC.

There were almost twice as many state actions as federal in 2022, although both the feds and the states broke previous record by significant margins.

FinCEN placed Binance next to the darknet market Hydra as a major counterparty receiving Bitcoin from Bitzlato.

A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks.

“I’m just a regular Bitcoiner caught in the crosshairs,” claimed Mark Alexander Hopkins, also known as Rizzn, prior to serving their prison sentence.

It says users in the United States can expect digital asset services to come in the future.

Him Das said FinCEN’s current authority under the PATRIOT Act would likely not stop actors from engaging in illicit transactions for ransomware attacks and darknet markets.

“Prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people,” said FinCEN acting director Him Das.

The Treasury will consider imposing KYC regulations on transactions involving self-custodied wallets.

Former CEO Arthur Hayes and other executives at the firm are still likely to face charges on alleged violations of the Bank Secrecy Act.

FinCEN digital currency adviser Michele Korver believes cryptocurrency is a natural evolution in financial technology.

The SEC’s approach to crypto must be modified to more clearly articulate how securities laws should apply to digital assets.

Michele Korver’s appointment to the U.S. Financial Crimes Enforcement Network promises to reduce illicit financial practices within the crypto space.