Remove BSA Remove Cryptocurrency Remove Legal Framework
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Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These services blend the cryptocurrencies of many users together, making it difficult to trace the origin of funds. Usage of mixers peaked in 2022, with over US$1.5

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Groups Call On Congress To Use Bank Secrecy Act For Crypto Regs

PYMNTS

Some VASPs are regulated as money transmitters under the Bank Secrecy Act (BSA) while others escape regulation, said David Murray, FIN’s vice president for product development and services. Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone.

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