FinCEN Director Kenneth Blanco said that Anti-Money Laundering laws will be strictly enforced in the world of crypto.
FinCEN News
The Financial Crimes Enforcement Network, or FinCEN, is a bureau of the U.S. Department of the Treasury that specializes on analysis of all financial operations in order to prevent terrorist financing, money laundering, etc. FinCEN was founded in 1990 and currently is headquartered in Vienna, VA. In 2013, FinCEN issued Bitcoin and virtual currency guidance concerning creating, obtaining, distributing, exchanging, accepting or transmitting virtual currencies. By this guidance, the companies that provide cryptocurrency-related services must report all data to the government so that it can prevent money laundering. There are also definitions for various kinds of cryptocurrency users and their responsibilities while working with digital currencies.
- News
- In depth
Crypto companies will need to comply with FATF regulations by June 2020, but there are still many potential stumbling blocks.
- News
by Joeri Cant
FinCEN Director Kenneth Blanco says that the agency expects fintech firms that provide anonymous services to comply with Anti-Money Laundering standards.
- Analysis
Will Binance’s entry into the U.S. market pave the way for other prominent exchanges as well?
- News
by Joeri Cant
The United States Congress passed a bill that calls for the director of FinCEN to study blockchain in its fight against financial crime.
- Follow up
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- News
FinCEN director Kenneth Blanco urged casinos to follow the agency’s guidelines in regards to suspicious convertible virtual currency activity.
- Recap
by Samuel Haig
Vinnik appears to be a “strategic intellectual resource” following extradition requests from multiple countries and alleged ties to an elite Russian cyber-espio...
- News
by Helen Partz
Security tokens platform TokenSoft has officially launched Know Your Business support in order to comply with new regulations recently introduced by FinCEN.
- News
by Kollen Post
House Reps question FinCEN Director Kenneth Blanco on Libra’s potential usage in illegal activity.
- News
Blockchain analysis firm Chainalysis has appointed former FinCen and U.S. DoJ official Michael Mosier as its new Chief Technical Counsel.
- Analysis
Caitlin Long and Peter Van Valkenburgh find themselves on the opposite sides of the federal-versus-state regulation divide.
- Hodler’s Digest
FinCEN’s enforcement against a p2p crypto exchanger could set a precedent, and French instant mashed potatoes go blockchain.
- Follow up
With more influential voices in academia and politics speaking out against burdensome federal regulations, is change imminent?
- News
The U.S. Financial Crimes Enforcement Network (FinCEN) has issued an advisory calling on cryptocurrency exchanges to monitor Iranian use of crypto to evade sanc...
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