Operating a Bitcoin ATM could indeed be a lucrative business endeavor, but it just got a whole lot more complex. The very first Bitcoin (BTC) ATM came to the United States in 2014 to Austin, Texas. This historic event occurred quickly after Canada pioneered the idea in 2013, and the excitement and demand for such…
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U.S. agencies sought millions of dollars in new funding to bolster national and international cryptocurrency investigations. The COVID-19 pandemic has crushed businesses, crippling life all across the world. It is costing darknet drug traffickers millions as well because their methods of moving drugs and funds have been compromised during the lockdown, according to a blog…
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The head of the agency that enforces the Bank Secrecy Act and KYC requirements in the U.S. says the agency aims to help crypto innovate responsibly. In a May 27 interview sponsored by Chainalysis, Director of the United States Financial Crimes Enforcement Network (FinCEN) Kenneth Blanco was adamant that the regulator is not the enemy.…
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Experts believe that Libra’s hiring spree signifies a willingness to comply with existing legal and financial guidelines. Following a big-time update to its white paper in mid-April, the Libra Association has over the past couple of weeks made a string of striking new additions to its core governance team, including appointing Robert Werner as its…
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An investigation that involved several U.S. federal agencies led to the bust of the darknet operators and seizure of $22 M in cryptocurrency. May 19, the Financial Crimes Enforcement Network (FinCEN) awarded several federal agencies in the United States, whose joint probe led to the seizure of $22 million worth of cryptocurrency from the darkenet…
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Bitget, a Singapore-headquartered digital asset platform, has obtained a license from the U.S. Financial Crimes Enforcement Network. While global cryptocurrency firms increasingly come to Singapore to benefit from its crypto-friendly ecosystem, some local firms are also expanding their operations beyond local jurisdiction. Bitget, a Singapore-headquartered digital asset platform, has obtained regulatory approval from the United…
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U.S. agencies work to handle crypto in sanctions evasion, but may ultimately just cut the country off from an evolving financial world. Running up against limited experience and resources for monitoring potentially illegal use of digital assets, United States authorities delegate sanctions monitoring to cryptocurrency exchanges and industry players. But do current practices do more…
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Monero’s compliance workgroup concludes that FinCEN Funds Travel Rule does not apply to underlying assets and cryptocurrencies such as XMR. The Monero Compliance Workgroup has stated that the Monero (XMR) network is not subject to U.S. Financial Crimes and Enforcement Network (FinCEN) guidelines regarding the Funds Travel Rule, in a Dec. 5 blog post. What…
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FinCEN Director Kenneth Blanco said that Anti-Money Laundering laws will be strictly enforced in the world of crypto. The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco said that Anti-Money Laundering (AML) laws will be strictly enforced in the world of cryptocurrencies. On Nov. 15, Reuters reported that Blanco made it crystal clear…
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Crypto companies will need to comply with FATF regulations by June 2020, but there are still many potential stumbling blocks. For better or for worse, the cryptocurrency space is coming of age. Since Bitcoin’s rise to mainstream prominence in 2015, there has been increasing recognition of digital assets from government agencies around the world. In…
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