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Virtual Currency, IRL Penalties

  FOR IMMEDIATE RELEASE CONTACT: Steve Hudak July 26, 2017 703-905-3770 FinCEN Fines BTC-e Virtual Currency Exchange $110 Million for Facilitating Ransomware, Dark Net Drug Sales Treasury’s First Action Against a Foreign-Located Money Services Business WASHINGTON—The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for […]

Singapore goes the way of FinCEN on Virtual Currencies

The Monetary Authority of Singapore (MAS) issued a notice last Thursday announcing its intention to regulate virtual currencies in order to manage AML/CTF risks: 2 Virtual currency transactions, given their anonymous nature, are particularly vulnerable to ML/TF risks. To address this, MAS will introduce regulations to require virtual currency intermediaries1 […]