FinCEN

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Unlicensed Bitcoin Reseller Obtaining BTC from Bitfinex Faces Two-year Prison Sentence

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Bitcoin users have often been a target for law enforcement agencies and governments. In the United States, that scrutiny is even bigger compared to most other countries around the world. One 22-year-old Bitcoin trader has now been sentenced to two years in prison and forfeiting financial assets for trading and selling Bitcoin in an unlicensed … Read more

Bitcoin Trader Faces Five Years in US Jail for Unlicensed Money Transmitting Business

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Bitcoin trader Jacob Burrell-Campos pleaded guilty this week in a U.S. federal court to operating an unlicensed money transmitting business. The 21-year-old San Diego native is now awaiting sentencing and faces a maximum of five years in jail. Also Read: How to Easily Give BCH as Gifts in Halloween Trick-or-Treat Packages ‘Serious Threat’ to US … Read more

Fincen Claims Iran Is Using Crypto to Evade Sanctions

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The Financial Crimes Enforcement Network has warned U.S financial institutions that the Iranian government might be dodging economic sanctions by using cryptocurrencies. The document highlights challenges arising from peer-to-peer virtual currency exchanges and encourages banks to monitor blockchain ledgers for transactions tied to the country. Also Read: Church Mining Cryptocurrency to Pay Higher Electricity Rates Iranian … Read more

Fincen Claims Iran Using Crypto to Evade Sanctions

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The Financial Crimes Enforcement Network has warned U.S financial institutions that the Iranian government might be dodging economic sanctions by using cryptocurrencies. The document highlights challenges arising from peer-to-peer virtual currency exchanges and encourages banks to monitor blockchain ledgers for transactions tied to the country. Also Read: Church Mining Cryptocurrency to Pay Higher Electricity Rates Iranian … Read more

FinCEN Receives More Than 1,500 Crypto-Related Complaints Every Month

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The US Financial Crimes Enforcement Network receives over 1,500 suspicious activity reports (SARs) related to cryptocurrencies, the agency’s director has revealed. The majority of them come from money service businesses (MSBs), stakeholders in the digital currency industry and other financial institutions. The director also noted that the agency has been working with other government agencies … Read more

US Government to “Aggressively Pursue” Unregulated Services Around the World

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Two common complaints among crypto traders are that platforms which didn’t before are now demanding identification documents and that more venues close their doors to residents of some countries. While users naturally lash out at the companies, it is important to remember that this is often done under coercion or threat by regulators. The US … Read more