FinCEN – Page 3 – DIGIT INFO

FinCEN includes crypto in alert on Russia potentially evading sanctions

“Prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people,” said FinCEN acting director Him Das.

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Averted a year ago, controversial transaction monitoring rule is back on Treasury’s radar

The Treasury will consider imposing KYC regulations on transactions involving self-custodied wallets.

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US Sentences Man to 3 Years in Prison for Operating Unlicensed Bitcoin Exchange Business

A California man has been sentenced to three years in federal prison “for operating an unlicensed business that exchanged at least $13 million in bitcoin and cash, often for drug traffickers,” the U.S. Department of Justice said. He agreed to forfeit various assets, including seized cryptocurrency. Bitcoin Exchange Operator Sentenced to 3 Years in Jail […]

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FinCEN Links More Than $5 Billion in Bitcoin Transactions to Ransomware

FinCEN, the U.S. Financial Crimes Enforcement Network, linked more than $5 billion in bitcoin transactions to the most common ransomware variants out there. The organization stated in a report issued last week that the mean average total monthly suspicious amount of ransomware transactions was $66.4 million during the first two quarters of 2021. FinCEN also […]

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Bitmex Agrees to Pay $100 Million to Resolve Charges With FinCEN and CFTC

Bitmex Agrees to Pay $10 Million to Resolve Charges With FinCEN and CFTC

Global cryptocurrency derivatives exchange Bitmex has settled charges with the U.S. Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN). The exchange has agreed to pay as much as $100 million to end investigations by the two agencies. Bitmex Settles With CFTC and FinCEN Bitmex confirmed Tuesday that “it has reached a […]

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BREAKING: BitMEX announces $100M settlement with FinCEN, CFTC

No mention was made of criminal charges against former CEO Arthur Hayes or any other executives at the firm.

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FinCEN’s new digital currency advisor says crypto’s ‘just another means of payment’

FinCEN digital currency advisor, Michele Korver, believes cryptocurrency is a natural evolution in financial technology.

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DoJ’s crypto czar joins FinCEN in brand-new role: Why it matters

Michele Korver’s appointment to the U.S. Financial Crimes Enforcement Network promises to reduce illicit financial practices within the crypto space.

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Financial Watchdog FinCEN Recruits First-Ever Chief Digital Currency Advisor

Following the Financial Crimes Enforcement Network (FinCEN) explaining the misuse of cryptocurrencies is a national priority last week, the bureau announced on Tuesday it hired its first-ever chief digital currency advisor. FinCEN’s acting director Michael Mosier detailed that Michele Korver will be the bureau’s new crypto expert and she brings “a wealth of digital currency […]

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FinCEN Names Misuse of Cryptocurrencies a National Priority

The Financial Crimes Enforcement Network (FinCEN) has named “cybercrime, including relevant cybersecurity and virtual currency considerations” a national priority. In particular, the Treasury is concerned about the “misuse of virtual assets that exploits and undermines their innovative potential, including through laundering of illicit proceeds.” FinCEN, a bureau of the U.S. Department of the Treasury, published […]

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