Tag: fincen

Apr 05 2021

Former Chainalysis CTO Selected To Lead FinCEN, Signaling New Bitcoin Regulations

Apr 05 2021 Published at Bitcoin Magazine under tags  business chainalysis fincen

In selecting a former blockchain analysis executive to lead the agency, FinCEN has signaled that it wants to increase Bitcoin regulations.Michael Mosier, who led blockchain analysis firm Chainalysis as its chief technology officer from June 2019 to February 2020, has been selected as the incoming acting...

Apr 04 2021

FinCEN Appoints Former Chainalysis CTO as Acting Director

Apr 04 2021 Published at Crypto Briefing under tags  business chainalysis fincen

FinCEN has hired the former CTO of Chainalysis to be its acting director. The move indicates that the agency is adding more talent to focus on the burgeoning crypto sector. Chainalysis Chief Joins FinCEN The U.S. government's Financial Crimes Enforcement Network (...

Apr 02 2021

Why Proposed FATF Rules Could Be a Shock for DeFi

Dave Jevans, CEO of Cipher Trace, talks about what the new draft guidance from the FATF (Financial Action Task Force) means for DeFi, NFTs, and crypto in general. In this show, he breaks down: the six main areas the draft guidance covers, including the expansion of KYC regulatory standards into DeFi (1:07)...

Mar 27 2021

Why the FATF Travel Rule Shows the FinCEN Crypto Wallet Rule Can Work

The FATF has proved that mutually-acceptable solutions to AML and terrorism financing can be found

Feb 01 2021

FinCEN’s Wallet Rule Aims to Close Crypto-Cash Reporting Gap, Official Says

FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule.

Jan 26 2021

FinCEN Grants Another 60-Day Extension for Controversial Crypto Bill

Jan 26 2021 Published at Crypto Briefing under tags  fincen joe biden markets wallets

Biden's administration has granted another 60-day extension for deliberation on the proposed FinCEN crypto bill to require mandatory KYC for self-hosted wallets. 🚨 Yet another FinCEN...

State of Crypto: Unpacking the Trump Presidency’s Crypto Legacy

Donald Trump may have been anti-crypto but his appointed regulators ushered in a largely industry-friendly regime.

FinCEN Further Extends Comment Period for Controversial Crypto Rules

Jan 26 2021 Published at CoinDesk under tags  fincen news policy & regulation

The Financial Crimes Enforcement Network (FinCEN) is further extending a comment period for a controversial proposed rule that would require crypto exchanges to gather and store counterparty information for transactions to unhosted wallets. FinCEN announced the move Tuesday, saying all comments are due 60 days after the change is submitted to the Federal Register, the […]

Jan 22 2021

Is Tether a Fraud? Its Bank Says It’s Not

Gregory Pepin, deputy CEO of Deltec Bank and Trust, responds to allegations in a blog post by the pseudonymous Crypto Anonymous, that Tether is a "highly probably fraud." In this episode, he covers: how Deltec accounts for its reserves, and why they didn't show up on Crypto Anonymous's blog post...

Jan 21 2021

President Biden Freezes FinCEN’s Controversial Crypto Wallet Proposal

Jan 21 2021 Published at Crypto Briefing under tags  education fincen joe biden

President Joe Biden has frozen all new or pending rules introduced during the Trump administration. This includes the FinCEN's controversial crypto wallet proposal. Biden Hits Pause The 46th President of the United States, Joe Biden, has...

Jan 19 2021

State of Crypto: What the Crypto World Should Watch for in the Biden Era

The incoming president has already announced he would tap pro-crypto, pro- regulation Gary Gensler to lead the SEC, but a number of other names and issues remain outstanding.

Jan 14 2021

DC Magistrate Judge Calls Unhosted Wallet ‘Horror Story’ a ‘Fiction’

“Indeed, cash poses a greater challenge to law enforcement than cryptocurrency in unhosted wallets," wrote Judge Zia Faruqui in an opinion on a forfeiture case.

Jan 13 2021

FinCEN’s Crypto Surveillance Rule Violates the US Constitution

Proposals requiring crypto companies to report transactions amount to "mass surveillance" and flout the Fourth Amendment.

Jan 12 2021

FinCEN’s Crypto Rules Aren’t as Unfair as Jack Dorsey Says

Jan 12 2021 Published at CoinDesk under tags  fincen opinion policy & regulation

Crypto companies complain about FinCEN's new "unhosted wallets" proposal. But the rules aren't unreasonable, says our columnist.

Jan 07 2021

FinCEN Flooded With 65,000 Comments Opposing Impractical Crypto Bill

Jan 07 2021 Published at Crypto Briefing under tags  education fincen regulations

FinCEN's beta regulatory proposal for mandatory KYC of self-hosted crypto wallets and nodes received over 65,000 comments, demanding the agency reconsider the "devastating" proposal....

65K Comments and Counting: Crypto Industry Fights ‘Arbitrary’ Treasury Rule

The crypto industry says a proposed rule to collect personal data from private wallet transactions is being rushed, might be challenged in court and could be difficult to implement.

Jan 06 2021

U.S. Citizens May Have to Report Off-Shore Crypto Holdings As per Latest FinCEN Notice

Jan 06 2021 Published at Coingape under tags  btcbrl btcbusd btceur btcgbp btcjpy

Latest notice from FinCEN intends to subject digital...

Jan 05 2021

Square’s Jack Dorsey Hits Out at FinCEN’s ‘Burdensome’ Proposed Crypto Wallet Rules

"The burdensome information collection and reporting requirements deprive U.S. companies like Square of the chance to compete on a level playing field," Dorsey said.

Jack Dorsey’s Square Slams FinCEN’s Newly Proposed Crypto Wallet Rules, Calls It “Unnecessary Friction”

Jan 05 2021 Published at Coingape under tags  coinbase crypto rules fincen jack dorsey news

Just as the timeline for commenting on the newly proposed crypto wallet rules comes to an end by January 4 midnight, Jack Dorsey-owned crypto trading platform Square Inc. has issued a fresh statement on the matter....

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