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.
FinCEN director Kenneth Blanco urged casinos to follow the agency’s guidelines in regards to suspicious convertible virtual currency activity.
FinCEN Director Addresses Casino Compliance With Obligations Regarding Crypto
Vinnik appears to be a “strategic intellectual resource” following extradition requests from multiple countries and alleged ties to an elite Russian cyber-espio...
BTC-e’s Vinnik Case Drags on as New Accusations Continue Emerging
Security tokens platform TokenSoft has officially launched Know Your Business support in order to comply with new regulations recently introduced by FinCEN.
US Security Token Platform Adds New Policies to Comply with FinCEN
House Reps question FinCEN Director Kenneth Blanco on Libra’s potential usage in illegal activity.
House Reps Question FinCEN Director on Libra’s Potential for Illegal Usage
Blockchain analysis firm Chainalysis has appointed former FinCen and U.S. DoJ official Michael Mosier as its new Chief Technical Counsel.
Chainalysis Appoints Former FinCen Officer as Technical Counsel
Caitlin Long and Peter Van Valkenburgh find themselves on the opposite sides of the federal-versus-state regulation divide.
Federal Preemption or States’ Rights? Crypto Advocates Clash Over Regulatory Approaches
FinCEN’s enforcement against a p2p crypto exchanger could set a precedent, and French instant mashed potatoes go blockchain.
Hodler’s Digest, April 15–21: Top Stories, Price Movements, Quotes and FUD of the Week