Suspicious Activity Reports

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US Treasury Charges Bittrex With Sanctions Violations, Crypto Exchange Agrees to Settle With Regulator

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On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure to “implement effective sanctions compliance controls” between March 2014 and December 2017. Crypto Exchange … Read more

US Government Agencies Propose Changes to Funds Transfer Rules-Seek to Broaden Definition of Money to Include Cryptocurrencies

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The U.S. Federal Reserve Board and Fincen are seeking feedback on their proposal to lower the threshold at which financial institutions must collect and retain information on funds transfers. In their joint notice on the rule change proposal, the two U.S. agencies want a new threshold for international transactions to be set at $250 down … Read more