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

@interplay » 10 Apr '13, 6pm
RT @mpd: US regulator: Bitcoin exchanges must comply with money-laundering laws | Ars Technica [link]
@PMaylee » 04 Apr '13, 1am
@blondenfun1 when u sell bitcoins u have to register when u exchange them into dollars.. [link]
@PMaylee » 04 Apr '13, 12am
Bitcoin Exchanges Must Comply W/ Money-Laundering Laws. U also must register if U Exchange For dollars.. Read info [link]
@maxoom1960 » 04 Apr '13, 12am
RT @schm0e: b careful with bitcoins govt's can and will attack when it becomes a real threat [link] they'll say it's 4 national security
@schm0e » 03 Apr '13, 11pm
b careful with bitcoins govt's can and will attack when it becomes a real threat [link] they'll say it's 4 national security
@stacyherbert » 03 Apr '13, 10pm
Is FinCEN responsible for the bitcoin's sudden mainstream media attention and, therefore, price rise? [link]
@Jeevesmeister » 28 Mar '13, 10am
@thehighesttimes Besides, you can't really do much of anything but buy drugs and guns and/or launder money. [link]
@bfrysworld » 25 Mar '13, 5pm
US regulator: #Bitcoin exchanges must comply w/ money-laundering laws [link] @arstechnica #tlot #ocra #libertarian #currency
@Mondiablue » 22 Mar '13, 7pm
RT @Syngeneer: US regulator: Bitcoin exchanges must comply with money-laundering laws [link]
@holyhologram » 22 Mar '13, 10am
Bitcoin getting big enough to attract regulatory repression. [link]
@Neilmajor » 22 Mar '13, 8am
Oooh, this is about to get interesting... Bitcoin exchanges must comply with money-laundering laws (!) [link]
@frogtwitt » 22 Mar '13, 7am
RT @PierreMetivier: US regulator: Bitcoin exchanges must comply with money-laundering laws [link] via @binarybits
@andrew_rickmann » 21 Mar '13, 6pm
The AML regulators catch up with Bitcoin: [link]
@DarioSolera » 21 Mar '13, 6pm
Is this the beginning of the end for Bitcoin? [link]
@mobinauten » 21 Mar '13, 5pm
Back to reality...Bitcoin will have to comply with money-laundering laws [link]
@FlushdrawPoker » 21 Mar '13, 5pm
RT @JoeTall: Bitcoin will have to comply with money-laundering laws [link] via @arstechnica
@erikprins2023 » 21 Mar '13, 2pm
Bitcoin handelaren moeten zich in VS houden aan de regels tegen witwassen. [link]
@marsnine » 21 Mar '13, 12pm
RT @ForbesTech: From @arstechnica: Bitcoin will have to comply with money-laundering laws [link] 결국 최고의 플랫폼 돈
@T_J_Chambers » 21 Mar '13, 12pm
Virtual Currencies To Comply With Money-Laundering Regulations (Via Ars Technica) [link]
@CeezP » 21 Mar '13, 10am
RT @ForbesTech: From @arstechnica: Bitcoin will have to comply with money-laundering laws [link]
@ForbesTech » 21 Mar '13, 10am
From @arstechnica: Bitcoin will have to comply with money-laundering laws [link]
@GameBizLaw » 21 Mar '13, 6am
RT @bsookman: US regulator: Bitcoin exchanges must comply with money-laundering laws [link]
@Tent101 » 20 Mar '13, 10pm
RT @blindcyclists: Regulators coming for BitCoin [link]
@blindcyclists » 20 Mar '13, 10pm
Regulators coming for BitCoin [link]
@bfrysworld » 20 Mar '13, 10pm
fuck outta here, feds. "bitcoins are now worth more than *$50* and a new block is created every 10 minutes..." [link]
@bfrysworld » 20 Mar '13, 9pm
#bitcoin exchanges MUST COMPLY with Federal Money-Laundering laws...or something. [link]
@mda233 » 20 Mar '13, 7pm
RT @ErOrange: Bitcoin exchanges must comply w/ money-laundering laws. Miners must register if they trade in their earnings for $'s [link]
@ErOrange » 20 Mar '13, 6pm
Bitcoin exchanges must comply w/ money-laundering laws. Miners must register if they trade in their earnings for $'s [link]
@kevin_lo » 20 Mar '13, 4pm
Oops! The time has come. #bitcoin [link]
@stefan41 » 20 Mar '13, 3pm
End of the gravy train for @sealswithclubs and other #bitcoin based sites? /by @binarybits [link]
@pasupatidasi » 20 Mar '13, 3pm
RT @Moon_Rivers: US regulator: Bitcoin exchanges must comply with money-laundering laws [link] via [link]
@Starks00Seven » 20 Mar '13, 3pm
RT @coinlab: US regulator: Bitcoin exchanges must comply with money-laundering laws = #bitcoin becoming legit [link]
@wwwiretap » 20 Mar '13, 3pm
RT @gattaca: US regulator: Bitcoin exchanges must comply with money-laundering laws [link] < more on Bitcoins
@gmcmullen » 20 Mar '13, 2pm
US regulators want Bitcoin miners and exchanges to comply with money-laundering laws: [link] #privacy
@OwenC » 20 Mar '13, 1pm
Reading: US regulator: Bitcoin exchanges must comply with money-laundering laws | Ars Technica [link]
@TAMLOInfo » 20 Mar '13, 1pm
US regulator: Bitcoin exchanges must comply with money-laundering laws. [link] #aml
@parkernow » 20 Mar '13, 12pm
A couple of great articles from@BinaryBits about the non-crackdown on bitcoins: [link] and [link]
@Sigulora » 20 Mar '13, 12pm
‘US regulator: Bitcoin exchanges must comply with money-laundering laws’ On dirait qu’ils commencent à prendre peur. [link]
@adriaan_pelzer » 20 Mar '13, 11am
Bitcoin exchanges at long last pop up on the US regulator's radar - must comply with money-laundering laws [link]
@lotocoti » 20 Mar '13, 11am
Hahaha WELP [link]
@Der_Gregor » 20 Mar '13, 11am
Bin schon gespannt auf Auswirkungen RT @blackVPN US regulator: Bitcoin exchanges must comply w money-laundering laws [link]
@rankinthomas » 20 Mar '13, 10am
RT @georgebabu: And the Government comes knocking. Wants in on the Bitcoin party. If "msbs" must collect cust info, why use bitcoin? [link]
@georgebabu » 20 Mar '13, 10am
And the Government comes knocking. Wants in on the Bitcoin party. If "msbs" must collect cust info, why use bitcoin? [link]
@BruceHallas » 20 Mar '13, 7am
Makes sense ?! RT @andreaglorioso: US regulator: Bitcoin exchanges must comply with money-laundering laws [link] #infosec
@TimelessP » 20 Mar '13, 7am
RT @andreaglorioso: US regulator: Bitcoin exchanges must comply with money-laundering laws [link]
@joelfarris » 20 Mar '13, 6am
RT @Asher_Wolf "US regulator: Bitcoin exchanges must comply with moneylaundering law [link]" Why? Regular banks don't comply
@dise2s » 20 Mar '13, 6am
RT @gbillois: US regulator: #Bitcoin exchanges must comply with money-laundering laws [link]
@itsWanda » 20 Mar '13, 5am
RT @Liberationtech: US regulator says #Bitcoin exchanges must comply with money-laundering laws [link] by @ArsTechnica's @binarybits
@Liberationtech » 20 Mar '13, 5am
US regulator says #Bitcoin exchanges must comply with money-laundering laws [link] by @ArsTechnica's @binarybits
@coinlab » 20 Mar '13, 4am
US regulator: Bitcoin exchanges must comply with money-laundering laws = #bitcoin becoming legit [link]