RATE Group | US government strictly enforcing cryptocurrency rules
69177
post-template-default,single,single-post,postid-69177,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

US government strictly enforcing cryptocurrency rules

19 Nov US government strictly enforcing cryptocurrency rules

Posted at 17:23h in Cryptocurrency News by

[ad_1]

  • The Financial Crimes Enforcement Network will be combating money laundering and safeguard the country’s financial system.
  • Travel rule requires companies to conduct full verification of customers and all involved in transactions of $3,000 and higher.

 

The U.S. government will be strictly enforcing the rules on cryptocurrencies similarly to the standards recommended by the Financial Action Task Force (FATF). 

The Financial Crimes Enforcement Network has reconfirmed that its “Travel” rule applies to cryptocurrencies. This department will strictly enforce anti-money laundering (AML) rules on cryptocurrencies, according to the Director Kenneth Blanco.

FINCEN is a bureau of the U.S. Department of the Treasury with its aim to be combating money laundering and safeguard the country’s financial system from illicit use. The bureau requires cryptocurrency firms engaged in money service businesses, including crypto exchanges and wallet service providers, to…

[ad_2]

Source link

Tags:
, , , ,