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.
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The crypto FBAR: Implications beyond
Michael Mosier will replace Kenneth Blanco as the U.S. government agency’s acting director.
Former Chainalysis brass is now FinCEN’s acting director
In its latest comment, the advocacy group goes after the proposed requirement to create currency transaction reports for crypto transactions.
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The former aide to Representative Davidson will join crypto's leading trade association.
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The Blockchain Association's ranks swell as firms look to aid its work in keeping crypto transactions peer-to-peer.
Crypto industry jumps into lobbying in response to FinCEN
The Treasury has opened up the comment period for its self-hosted wallet requirements for another 60 days.
With Yellen confirmed, Treasury moves forward with stalled crypto monitoring rule