Anti-Money Laundering Laws Apply to Crypto Too, Says FinCEN Chief

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FinCEN Director Kenneth Blanco says that the agency expects fintech firms that provide anonymous services to comply with Anti-Money Laundering standards. The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco spoke at the University of Georgetown where he made it clear that Anti-Money Laundering (AML) laws apply to everyone.On Oct. 21, banking trade publication American Banker reported that Blanco said that fintech firms offering cryptocurrency users anonymity must comply with AML laws “just like everyone else.”Blanco highlights responsibilities and the Bank Secrecy ActBlanco seemed to direct his comments toward anonymous crypto payment systems that could conceal criminal activity…
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Anti-Money Laundering Laws Apply to Crypto Too, Says FinCEN Chief

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