Financial Crimes Enforcement Network Archives

Digital currency ATMs being used for drugs and human trafficking: GAO

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18 January, 2022

Digital currency ATMs being used for drugs and human trafficking: GAO

U.S. Government Accountability Office said that since digital currency ATMs are not as strictly regulated, they can allow human traffickers...

New US bill to bar ransomware payments above $100,000

Business

Steve Kaaru

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15 November, 2021

New US bill to bar ransomware payments above $100,000

The new bill is meant to curb ransomware attacks, requiring all businesses to report these attacks and the U.S. Treasury...

Taproot: Centralized changes put every BTC user at risk

Business

Jordan Atkins

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10 August, 2021

Taproot: Centralized changes put every BTC user at risk

What the Taproot update does is make the responsibility for laundered coins to fall more broadly on the shoulders of...

FinCEN’s Michele Korver aims to crack down on digital currency crime

Business

Steve Kaaru

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4 August, 2021

FinCEN’s Michele Korver aims to crack down on digital currency crime

In a recent interview, Michele Korver talked about her new role, combating digital currency-related crime and why Bitcoin is just...

FinCEN hires Michele Korver as first ‘chief digital currency advisor’

Business

Steve Kaaru

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9 July, 2021

FinCEN hires Michele Korver as first ‘chief digital currency advisor’

Michele Korver joins the federal agency after a run at the U.S. Department of Justice where she was instrumental in...

Facebook Diem announces US stablecoin launch

Business

Ed Drake

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20 May, 2021

Facebook Diem announces US stablecoin launch

The project, formerly known as Libra, had been envisaging a worldwide roll-out for its stablecoin, which it had planned would...

Joe Biden pushes budget increase for FinCEN to tackle financial crimes

Business

Ed Drake

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15 April, 2021

Joe Biden pushes budget increase for FinCEN to tackle financial crimes

The budget increase would see funds of $191 million allocated to the agency, up $64 million on its original budget...

FinCEN extends comment period for proposed non-hosted wallets rule

Business

Steve Kaaru

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29 January, 2021

FinCEN extends comment period for proposed non-hosted wallets rule

The Notice of Proposed Rulemaking imposes new requirements on banks and money service businesses when handling non-hosted wallets.

FinCEN extends consultation for digital currency wallet rule

Business

Ed Drake

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22 January, 2021

FinCEN extends consultation for digital currency wallet rule

The period for comments has been extended for a further 15 days to allow submissions on a proposed $10,000 limit...

Massive anti-money laundering reform suggests busy year for US regulators

Business

Jordan Atkins

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7 January, 2021

Massive anti-money laundering reform suggests busy year for US regulators

The United States has passed huge reforms to its anti-money laundering regime, bringing digital asset exchanges and others dealing in...

US citizens may need to disclose offshore digital currency holdings soon

Business

Steve Kaaru

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6 January, 2021

US citizens may need to disclose offshore digital currency holdings soon

In its latest regulatory measure, FinCEN is proposing that U.S. citizens report if they have more than $10,000 in digital...

FinCEN looking for digital currency policy advisor as it ramps us KYC regulation

Business

Steve Kaaru

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22 December, 2020

FinCEN looking for digital currency policy advisor as it ramps us KYC regulation

The U.S. Treasury Department is seeking to hire a policy advisor to guide its digital currency oversight duties.

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