Busted: unregistered bitcoin MSB
Last week, it was reported that a New York man was charged with operating an unlawful money transmitting business for illegally selling bitcoin. According to…
1 min read
Category
Regulation
Western Union caught in money laundering probe
Late last week, the Colorado-based MSB said authorities were investigating whether the firm knew about gaming transactions involving other nations, and if sufficient AML safeguards…
2 min read
Aussies: banks didn’t conspire to derisk bitcoin
The Australian Competition and Consumer Commission (ACCC) determined that there was no evidence banks colluded prior to closing accounts held by bitcoin companies. Ultimately, it…
1 min read
Rethinking “structuring”
The tactic of breaking up financial transactions in an effort to evade certain reporting requirements, including the $10,000 CTR threshold, is back under the spotlight.…
1 min read
FinCEN targets cash real estate deals. Takeaways for bitcoin MSBs?
Recently, FinCEN issued a Geographic Targeting Order (GTO) requiring certain title agencies in New York and Miami to identify cash buyers of real estate. GTOs…
3 min read
BitLicense just an appetizer.
What a way for the New York Department of Financial Services (NYDFS) to end the year. Since Ben Lawsky’s departure in May 2015, the NYDFS…
2 min read
North Carolina exempts certain bitcoin businesses
North Carolina appears to have reversed course when it comes to regulating bitcoin companies in The Tar Heel State. The North Carolina Office of the…
2 min read
Regulators Are Warming Up to Digital Currency
Recently, BitAML Founder & CEO, Joe Ciccolo, sat down with Cointelegraph to discuss bitcoin regulation, the future of cryptocurrencies, and even legacy banking. “In the…
1 min read
DOJ expert to evaluate compliance programs
This week, the U.S. Department of Justice (DOJ) announced the hiring of Hui Chen as a “full-time compliance expert”. In this role, Ms. Chen will…
2 min read