FinCEN: Social Media Companies That Tokenize Must Follow the Law
Social networks with crypto aspirations must guard their systems against criminal exploitation, said FinCEN's deputy chief.
More than 70,000 crypto-related SARs had been filed with FinCEN since 2013, director Kenneth Blanco said Wednesday.
Singapore-based Bitget has registered with the U.S. Treasury Department as a money services business, the first step to launching operations in the country.
FinCEN is warning cybercriminals are exploiting the COVID-19 pandemic, and asks firms to be especially vigilant regarding their dealings with virtual currencies.
Canada’s financial crimes watchdog is preparing to implement its broad new virtual currency oversight powers ahead of the Financial Action Task Force’s June 2020 deadline.
U.S. Treasury Secretary Steven Mnuchin said FinCEN is preparing "significant new requirements" around cryptocurrencies to tamp down illicit activity.