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FinCEN News

The Financial Crimes Enforcement Network, or FinCEN, is a bureau of the U.S. Department of the Treasury that specializes on analysis of all financial operations in order to prevent terrorist financing, money laundering, etc. FinCEN was founded in 1990 and currently is headquartered in Vienna, VA. In 2013, FinCEN issued Bitcoin and virtual currency guidance concerning creating, obtaining, distributing, exchanging, accepting or transmitting virtual currencies. By this guidance, the companies that provide cryptocurrency-related services must report all data to the government so that it can prevent money laundering. There are also definitions for various kinds of cryptocurrency users and their responsibilities while working with digital currencies.

Top News

Is Dogecoin set to follow Shiba Inu’s (SHIB) 400% breakout?

'Much ow' ahead? Dogecoin chart fractal puts Shiba Inu's 390% QTD rally in danger

Shiba Inu rebounds 40% despite major selling by SHIB whales

One currency to rule them all: Facebook’s Diem has global ambitions

Shiba Inu is now a top-20 cryptocurrency with SHIB price soaring 300% in 9 days

Ripple Labs, Inc. has been handed a US$700K civil enforcement action on behalf on the Financial Crimes Enforcement Network (FinCEN).

FinCEN Fines Ripple Labs $700K in Civil Enforcement Action

2015-05-06T08:27:46+01:00

1560

The law, known as “civil asset forfeiture” was structured to not only track deposits made by suspected criminals but to seize them as well. But anyone who knows...

IRS Seizes Assets on Suspicion Only: Bitcoin could be Next

2014-10-28T13:33:00+00:00

558

In the last 24 hours, a couple of developments coming out of the US have shaken up American cryptocurrency communities.

US Regulators’ One-Two Punch: SEC Probes Crowdsales, FinCEN Takes Aim at Exchanges

Armand Tanzarian

2014-10-28T10:12:03+00:00

585

Bitstamp, one of the largest exchanges in the world that deals with US dollars, is taking the customer ID verification requirement very seriously and has warned...

Bitstamp: Unverified Bitcoin Accounts at Risk as Deadline Looms

2014-10-20T11:12:00+01:00

690

The question of how Bitcoin and cryptocurrencies in general fit into the American legal system at the federal and state levels is a great one.

Legal Basics: Owning and Using Bitcoin in the United States

Armand Tanzarian

2014-06-06T15:00:39+01:00

841

Some respite from the IRS following its controversial guidance on digital currencies: for this tax season, at least, holdings need not be declared on US FBAR fo...

IRS cuts Bitcoin some slack, continues probe

2014-06-06T11:54:00+01:00

393

Some good news came out of the US Treasury Department for American Bitcoin miners.

FinCEN not requiring individual Bitcoin miners to register

2013-12-30T13:01:00+00:00

334

The FinCEN warned companies working with bitcoin or providing crypto currency services of the necessity to correspond to the federal money transmission laws.

FinCEN Making Attempts to Regulate the Bitcoin Environment in the USA

2013-12-19T15:29:00+00:00

343