PYMNTS

NOVEMBER 16, 2018

The Financial Crimes Enforcement Network (FinCEN) announced that it has issued revised Geographic Targeting Orders (GTOs), which will now require U.S. In addition, FinCEN is requiring for purchases via virtual currencies to be reported. FinCEN Director Kenneth A.

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Fincen Financial Crimes SARS Crime 53

PYMNTS

JUNE 18, 2020

More than 40 different FinTechs, digital currency companies and nonprofits are teaming up to launch a universal payment ID in a bid to make transferring money akin to sending an email. We are excited to facilitate borderless, frictionless instant transactions for free for users.”.

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Bank Routing Number Fincen Cross-Border Payments Payments 98

PYMNTS

OCTOBER 19, 2020

Earlier this month, The Bank of Russia had released a report on a potential rollout of the digital ruble. 19) announcement.

Fincen 53

Fincen Mitigation Risk AML 53

PYMNTS

MAY 19, 2020

has been named general counsel to the Libra Association , a Geneva-based group founded by Facebook to launch the social media company’s digital currency, the organization announced Tuesday (May 19). Kennedy and late Supreme Court Justice Lewis F. He also headed financial crime compliance for Merrill Lynch.

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Treasury Financial Crimes Crime Fincen 90

PYMNTS

OCTOBER 14, 2020

While the pandemic has accelerated the use of digital payments in general, the broader market’s understanding and embrace of the scale of digital currencies (Voyager currently facilitates 50 on its platform) remains quite slim. Establishing Trust And Confidence.

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Treasury Cryptocurrency Stablecoins Fincen 129

The Fintech Times

FEBRUARY 24, 2024

Many cryptocurrency exchanges (CEXs) that facilitate trades between users of various digital currencies have often come under fire for mismanaging money, or engaging in unlawful activity. Meanwhile, the US boasts more top CEXs registered with the Financial Crimes Enforcement Network (FinCEN) than any other country.

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Fincen Financial Crimes Regulations Digital Currency 69

PYMNTS

DECEMBER 11, 2020

Unease with automated identity solutions is understandable but increasingly irrelevant as the scale, scope and sheer popularity of digital commerce necessitates automation. Defending New Digital Currencies.

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Money Laundering AML Cryptocurrency Fincen 87

PYMNTS

SEPTEMBER 30, 2020

FinCEN Director Tells Banks To Look Out For Crypto Fraud. Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco said that banks have to be cautious about digital currency risks, according to remarks scheduled to be provided at the ACAMS AML digital conference on Sept.

Fincen 52

Fincen Financial Crimes AML Card Issuer 52

PYMNTS

JANUARY 14, 2021

Financial Enforcement Crimes Network (FinCEN), proposed a set of new rules that would boost information gathering activities tied to cryptocurrencies. FinCEN, in stats that seem to back up Lagarde’s contention, has estimated that there was $119 billion in suspicious activity in 2019 alone tied to cryptos.

Money Laundering 61

Money Laundering Bitcoin Regulations Central Bank 61

PYMNTS

JULY 15, 2019

“The Libra Association, which will manage the (Libra) Reserve, has no intention of competing with any sovereign currencies or entering the monetary policy arena,” Marcus said in a prepared testimony posted by the Senate Banking Committee. Monetary policy is properly the province of central banks.”.

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Money Laundering Regulations Fincen Cryptocurrency 46

Finance Magnates

JANUARY 16, 2023

Some states may also require businesses to obtain a license from the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of Treasury. The license is used by businesses such as money transfer companies, payment processors, and digital currency exchanges.

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Fincen Financial Crimes Digital Currency Treasury 52

PYMNTS

MARCH 3, 2020

“These charges should serve as a reminder that law enforcement, through its partnerships and collaboration, will uncover illegal activity here and abroad, and charge those responsible for unlawful acts and seize illicit funds even when in the form of virtual currency.”. The money was then washed via eCurrency transactions.

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Law Enforcement Money Laundering IRS OFAC 56

PYMNTS

JULY 1, 2019

Facebook has registered Calibra, the wallet that will hold the currency, as a money service business with the U.S. Financial Crimes and Enforcement Network (FinCEN). Since the Libra announcement, everyone from the United States to India said they would closely scrutinize Facebook’s moves while it prepared to launch the currency.

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Fincen Central Bank Financial Crimes Cryptocurrency 41

BitPay

MAY 25, 2023

Increased regulation and clarity BitPay offers a turn-key compliance program, and is regulated by the Financial Crimes Enforcement Network (FINCEN) and states, following all Financial Action Task Force (FATF) recommendations. Businesses leverage BitPay Send to make recurring and one-off crypto payments.

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Cryptocurrency B2B Bitcoin Processors 40

Payments Source

APRIL 27, 2018

Financial institutions engaged in virtual currency markets face a number of risks — proceeding carefully is justified.

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Risk Fincen Digital Currency Bitcoin 65

CB Insights

MAY 8, 2018

US regulatory agencies, including the SEC, CFTC, and FinCEN, have generally reacted skeptically and unfavorably toward the new financing mechanism. T he SEC, CFTC, and FinCEN (in addition to other government agencies) seem to be approaching the sector in different ways. These companies could now face legal repercussions.

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Blockchain Technology Cryptocurrency Use Case 75

PYMNTS

DECEMBER 30, 2020

Instead, he expects central bank digital currencies ( CBDCs ) — government-issued digital versions of traditional dollars, yuan, etc. — In my mind, most money [in the near future] will basically be cryptocurrency, because you’ve got these CBDCs — the central bank digital currencies,” he said. Bitcoin is awesome.

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Fed Bitcoin Cryptocurrency Digital Currency 107

PYMNTS

MAY 15, 2017

This has been argued with FinCEN to no avail, and they insist that it is money transmission, since the intent of the other person (the buying party) is the key, and unless it’s a family member living under your roof where you can watch how they specifically spend that bitcoin, it’s nearly impossible to prove the intent.”.

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Bitcoin Ransomware Multi-Currency Regulations 62

FICO

APRIL 19, 2021

In the US, The Financial Crimes Enforcement Network (FinCEN) has proposed rulemaking “regarding certain transactions involving convertible virtual currency (CVC) or digital assets with legal tender status (LTDA).” These developments and many more point to cryptocurrencies’ storm-like advance on the shores of traditional banking.

AML 52

AML Cryptocurrency Financial Crimes Money Laundering 52

PYMNTS

JANUARY 21, 2021

Digital currency could be used to fund cyberattacks and sidestep international sanctions. The Financial Crimes Enforcement Network (FinCEN) has said that as of Sept. Justice Department recently raised alarms about cryptocurrencies and national security threats.

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OCC Office of the Comptroller of the Currency Fincen Federal Reserve 116

PYMNTS

AUGUST 3, 2020

FinCEN Warns Of COVID Scams Targeting FIs, Consumers. The Financial Crimes Enforcement Network (FinCEN) cautioned financial institutions (FIs) and consumers regarding schemes related to COVID-19, including some linked to digital currency. More than eight in 10 – or 82.1

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Fincen Federal Reserve Fed Shutdown 64

The Payments Association

MARCH 18, 2025

During the Biden Administration, the US Federal Reserve (the Fed) explored plans for Project Cedar, an early-stage framework for a potential central bank digital currency (CBDC). These views highlight the political divisions shaping the debate over the future of digital currency in the United States.

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Federal Reserve Stablecoins Fed Settlement 88