Bank Secrecy Act

(Matt Anderson Photography/Getty Images, modified by CoinDesk)
Is 2023 the Year the US Gets Serious About Protecting Privacy?
A discussion of the Bank Secrecy Act and new privacy priorities in Congress.
(Matt Anderson Photography/Getty Images, modified by CoinDesk)

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How Bank Secrecy Act Could Impact Crypto
Shipyard Software CEO and co-founder Mark Lurie breaks down his Policy Week opinion piece on CoinDesk, titled "Sweeping Crypto Regulation? First Update the Bank Secrecy Act." And, why decentralized finance should shift its focus from Know Your Customer (KYC) to "Know Your Transaction."
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CDCROP: Janitors sweep the trading floor at the New York Stock Exchange - NYSE - following the closing bell. October 10th 2008 was a historic low for the Dow Jones index. (Orjan F. Ellingvag/Corbis via Getty Images)
Sweeping Crypto Regulation? First Update the Bank Secrecy Act
The BSA’s surveillance framework is ingrained within U.S. regulators’ compliance culture – but it doesn't work for crypto.
CDCROP: Janitors sweep the trading floor at the New York Stock Exchange - NYSE - following the closing bell. October 10th 2008 was a historic low for the Dow Jones index. (Orjan F. Ellingvag/Corbis via Getty Images)

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Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation
Former BitMEX CEO Arthur Hayes was sentenced to two years of probation, with home detention for six months and location monitoring, in a federal courthouse in New York on Friday. Hayes pleaded guilty in February of violating the Bank Secrecy Act (BSA).
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OCC Finds Anchorage Digital Failed to Maintain Proper AML Rules
Trust company Anchor Digital was cited recently by the Office of the Comptroller of the Currency (OCC) for failing to properly incorporate an anti-money laundering procedure in 2021. CoinDesk Managing Editor for Global Policy and Regulation Nikhilesh De discusses how the firm will comply with the Bank Secrecy Act moving forward.
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(Matthew Henry/Unsplash)
The Financial Aftermath of 9/11
As the world looks back on one of the worst tragedies of the 21st century, it’s important to remember 9/11′s long-lasting aftereffects: increased financial surveillance and exclusion.
(Matthew Henry/Unsplash)

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BitMEX Co-Founder Ben Delo Surrenders to US Authorities, Released on $20M Bond
Ben Delo, a co-founder of cryptocurrency derivatives exchange BitMEX, has surrendered to U.S. authorities and is pleading not guilty to charges of violating the Bank Secrecy Act. He was released on $20 million bail. “The Hash” panel digs in.
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Treasury Secretary Mnuchin And Fed Chair Powell Testify On CARES Act Before Senate
FinCEN's Wallet Rule Aims to Close Crypto-Cash Reporting Gap, Official Says
FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule.
Treasury Secretary Mnuchin And Fed Chair Powell Testify On CARES Act Before Senate

U.S. Customs and Border Protection Provide Testimony at MS13 Hearing
FinCEN Wants US Citizens to Disclose Offshore Crypto Holdings of $10K+
The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000.
U.S. Customs and Border Protection Provide Testimony at MS13 Hearing

fifth circuit
US Appeals Court Allows Warrantless Search of Blockchain, Exchange Data
A federal appeals court ruled public blockchain information and information stored on crypto exchanges do not provide a reasonable expectation of privacy under the Fourth Amendment.
fifth circuit