19 Mar '13, 4pm

US regulator: Bitcoin exchanges must comply with money-laundering laws

The federal agency charged with enforcing the nation's laws against money laundering has issued new guidelines suggesting that several parties in the Bitcoin economy qualify as Money Services Businesses under US law. Money Services Businesses (MSBs) must register with the federal government, collect information about their customers, and take steps to combat money laundering by their customers. The new guidelines do not mention Bitcoin by name, but there's little doubt which "de-centralized virtual currency" the Financial Crimes Enforcement Network (FinCEN) had in mind when it drafted the new guidelines. A FinCEN spokesman told Bank Technology News last year that "we are aware of Bitcoin and other similar operations, and we are studying the mechanism behind Bitcoin." America's anti-money-laundering laws require financial institutions to collect information on potentially s...

Full article: http://arstechnica.com/tech-policy/2013/03/us-regulator-b...

Tweets

US regulator: Bitcoin exchanges must comply wit...

mukpin.com 20 Mar '13, 11am

US regulator: Bitcoin exchanges must comply with money-laundering laws the federal agency charged with enforcing the natio...

Bitcoin

forbes.com 19 Mar '13, 8pm

Over at Ars Technica I reported on news that the Financial Crime Enforcement Network (FinCEN) has issued new guidelines on...

Treasury Department: Bitcoin Dealers Are Regula...

jdsupra.com 20 Mar '13, 6pm

Timothy Lee at Forbes magazine has reported today that the Financial Crimes Enforcement Network (FinCEN), a branch of the ...

Bitcoin To Be Regulated Under US Money Launderi...

yro.slashdot.org 22 Mar '13, 4pm

First, a small point: the laws apply to ALL transactions. The laws for MANDATORY reporting are at $10,000. If a financial ...

FINCEN: Bitcoin Users Not Regulated, Exchanges Are

FINCEN: Bitcoin Users Not Regulated, Exchanges Are

bitcoinmagazine.com 19 Mar '13, 1am

The paper starts off delineating a clear definition of what virtual currency is: “FinCEN’s regulations define currency (al...

The Empire Strikes Back. U.S. aims new regulati...

online.wsj.com 22 Mar '13, 1am

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

The U.S. is applying money-laundering rules to ...

live.wsj.com 22 Mar '13, 5pm

... I ... fascinating story on C1 today about the way that joblessness went to the moment that will ... cease ... to ... b...

US

online.wsj.com 21 Mar '13, 11pm

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

When Governments Take Your Money, Bitcoin Looks Really Good | Motherboard via @motherboard

When Governments Take Your Money, Bitcoin Looks...

motherboard.vice.com 19 Mar '13, 5pm

The tiny island of Cyprus became the center of the financial universe over the weekend, after its leaders, facing financia...

Bitcoin to be regulated: Government

online.wsj.com 22 Mar '13, 1am

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

US Begins Regulating BitCoin, Will Consider Vir...

zerohedge.com 22 Mar '13, 1am

Last November, in an act of sheer monetary desperation, the ECB issued an exhaustive, and quite ridiculous, pamphlet title...

Bitcoin

online.wsj.com 21 Mar '13, 11pm

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

US Beg...

US Beg...

leaksource.wordpress.com 23 Mar '13, 8pm

Last November, in an act of sheer monetary desperation, the ECB issued an exhaustive, and quite ridiculous, pamphlet title...

Is the US government trying to regulate Bitcoin?

theverge.com 20 Mar '13, 8pm

The community around Bitcoin, the fast-growing virtual currency that sustains an economy worth more than $650 million , ha...

US Treasury Updates Bitcoin Regulations

freebanking.org 19 Mar '13, 12pm

To provide clarity and regulatory certainty for businesses and individuals engaged in an expanding field of financial acti...