Virtual Currencies
Updates to guidance on FINTRAC’s website We wish to inform all reporting entities subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations of recent updates to the following guidance on FINTRAC’s website: Reporting large virtual currency transactions (LVCTRs) to FINTRAC In September 2021, […]
Publication of Sanctions Compliance Guidance for the Virtual Currency Industry and Updated Frequently Asked Questions Release date10/15/2021Body The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing an industry-specific brochure, “Sanctions Compliance Guidance for the Virtual Currency Industry,” as a resource to help members of the […]
04 Oct 2021 Technical Whitepaper on Retail Central Bank Digital Currency The Hong Kong Monetary Authority (HKMA) today (4 October) released a technical whitepaper on retail central bank digital currency (CBDC), titled “e-HKD: A technical perspective” (the Whitepaper). The HKMA announced the “Fintech 2025” strategy in June this year, one […]
28 Sep 2021 Joint research on multiple central bank digital currency (CBDC) shows potential for speeding up cross-border payments and reducing costs Together with the Hong Kong Centre of the Bank for International Settlements Innovation Hub (BISIH), the Bank of Thailand, the Digital Currency Institute of the People’s Bank of […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued an updated advisory to highlight the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to […]
FinCEN Announces $100 Million Enforcement Action Against Unregistered Futures Commission Merchant BitMEX for Willful Violations of the Bank Secrecy Act ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseAugust 10, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penaltyin the amount of $100 million against BitMEX, one of the oldest and […]
PRESS RELEASES Secretary of the Treasury Janet L. Yellen to Convene a Meeting of the President’s Working Group on Financial Markets to Discuss Stablecoins July 16, 2021 WASHINGTON — Today, Secretary of the Treasury Janet L. Yellen announced plans to convene the President’s Working Group on Financial Markets (PWG), in […]
Second FinCEN Exchange on Ransomware to Take Place in August ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseJuly 15, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced it will convene a FinCEN Exchange in August 2021 with representatives from financial institutions, other key industry stakeholders, and federal government agencies to discuss ongoing […]
FinCEN Welcomes First-Ever Chief Digital Currency Advisor and First Director of Strategic Communications ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseJuly 06, 2021 WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Acting Director Michael Mosier today announced leadership additions to the bureau. Michele Korver, who led a distinguished career at the United States Department of Justice, […]
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 […]
Mr. Watchlist 