Tag Archives: FinCEN

Blockchain Takes Over Episode 229 of the Cyberlaw Podcast

On September 4th, Alan Cohn hosted the 229th episode of The Cyberlaw Podcast.  We took a deep dive into all things blockchain and cryptocurrency discussing recent regulatory developments and best practices for users of exchanges.   Our episode begins with Charles Mills discussing the landmark decision coming out of the New York Eastern District Court in … Continue Reading

4 Key Takeaways from FinCEN Director’s Speech on Cryptocurrency

The Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has principal responsibility for issuing and enforcing federal anti-money laundering (AML) regulations applicable to US financial institutions, including money services businesses (MSBs) operating as “money transmitters” in the cryptocurrency space.  Followers of cryptocurrency regulation have been eager for additional FinCEN guidance clarifying the agency’s approach to … Continue Reading

Significant FinCEN Action Against BTC-e, Implications for Virtual Currency Exchangers

On July 26, 2017, the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury assessed a civil monetary penalty of $110,003,314 against Canton Business Corporation (BTC-e), one of the largest virtual currency exchanges by volume in the world, and a $12,000,000 penalty against Alexander Vinnik, a Russian national who allegedly controlled, directed, and … Continue Reading
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