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FinCEN recognizes that 15 days was just not enough for the recent Crypto NPRM’s comment period

FinCEN Extends Comment Period for Rule Aimed at Closing Anti-Money Laundering Regulatory Gaps for Certain Convertible Virtual Currency and Digital Asset Transactions Contact Office of Strategic Communications, 703-905-3770 Immediate Release January 14, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) announced today it is reopening the comment period for its recent proposed […]

FinCEN detail on its Civil Monetary Penalty

From today’s CMP assessment of $60,000,000 on Larry Dean Harmon: IV. CIVIL MONEY PENALTYFinCEN determined that Mr. Harmon, in his roles with Helix and Coin Ninja, willfully violated the BSA and its implementing regulations, as described in this ASSESSMENT and Attachment A, and that grounds exist to assess a civil […]

FinCEN penalizes Bitcoin mixer for AML violations

First Bitcoin “Mixer” Penalized by FinCEN for Violating Anti-Money Laundering Laws Contact Office of Strategic Communications, 703-905-3770 Immediate Release October 19, 2020 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a $60 million civil money penalty against Larry Dean Harmon, the founder, administrator, and primary operator of Helix and Coin Ninja, convertible virtual […]

You know that virtual currency scam that hit Twitter yesterday? FinCEN is on the case….

FIN-2020-Alert001 July 16, 2020 FinCEN Alerts Financial Institutions to Convertible Virtual Currency Scam Involving Twitter FinCEN is emphasizing a high-profile scam exploiting Twitter accounts to solicit fraudulent payments denominated in convertible virtual currency (CVC). Cyber threat actors compromised the accounts of public figures, organizations, and financial institutions to solicit payments […]

Estonia revokes 500 Crypto licenses

As part of an AML crackdown, Estonia’s action apparently is shuttering about 30% of the country’s crypto businesses. The head of their FIU says this is a “pre-emotive strike” against the industry, and that the goal is to tamp down money laundering risk in the industry through tighter regulation. Curiously, […]