A Meeting for Very Stable(coin) Geniuses
Link: Treasury Press Release
July 15, 2021: FinCEN invites you to talk ransomware in August
Link: FinCEN Press Release
FinCEN: You can’t regulate what you don’t fully understand, so…
Yes, I know, they also have a communications person now…. But there were no NPRMs about communications, were there? Link: FinCEN Press Release
HM Treasury’s Central Bank Digital Currency (CBDC) Taskforce Terms of Reference
Terms of Reference (ToR), April 2021 Central Bank Digital Currency (CBDC) Taskforce Role and Remit The Chancellor announced the Central Bank Digital Currency (CBDC) Taskforce as part of the April 2021 Fintech week. This Taskforce brings together HM Treasury and the Bank of England, to coordinate the exploration of a […]
Keep calm and crypto on: Bank of England statement on Central Bank Digital Currency
Bank of England statement on Central Bank Digital Currency The Bank of England and HM Treasury have today announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential UK CBDC. Published on 19 April 2021 The Bank of England and HM […]
FATF wants your opinion: Risk-based approach for virtual assets & VASPs public consultation
Public consultation on FATF draft guidance on a risk-based approach to virtual assets and virtual asset service providers The Financial Action Task Force (FATF) is updating its Guidance on the risk-based approach to virtual assets (VAs) and virtual asset service providers (VASPs). The FATF originally published this Guidance in June 2019 when […]
Published today on KYC360 (riskscreen.com)
My new article Checking the Bitcoin Box. It’s about the December 2020 FinCEN Notice of Proposed Rulemaking (NPRM) that would make banks and MSBs keep records of transactions over $3000 and report transactions over $10,000 (aggregations over a 24-hour period, too) involving cryptocurrency and “legal tender digital assets” (LTDA – […]
February 25, 2021: Treasury Statement on FATF Plenary
PRESS RELEASES Financial Action Task Force (FATF) Advances Its Work on Operational Measures to Prosecute Terrorist Financing and Virtual Assets February 25, 2021 Washington – The Financial Action Task Force (FATF) concluded its second plenary meeting during the German Presidency, its third virtual plenary since the start of the ongoing COVID-19 […]
Please withhold judgment…
… for the new episode of Mr. Watchlist’s DesigNation, entitled “Withholding Judgment”. Just dropping some basic knowledge about Withhold Release Orders (WROs) and Forced Labor Findings, which come out of US Customs and Border Protection (CBP), part of the Department of Homeland Security. Less commentary than I usually do, but […]
OFAC Enforcement Action: BitPay pays $507,375
So, BitPay, which “offers a payment processing solution for merchants to accept digital currency as payment for goods and services”, settled 2,102 apparent violations of multiple programs that were considered non-egregious, but not voluntarily self-disclosed. The total value of the transactions involved was only $128,582.61 (and the actual revenue to […]
