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ANALYSIS: Recent FinCEN and OCC Actions May Further Help Libra

June 8, 2020, 8:43 AM

The Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency each made news in May with actions carrying significant implications for their regulatory burdens on virtual currency businesses. Neither was directed at the Libra cryptocurrency project, but each could significantly benefit Libra. Along with the new leadership team at the Libra Association and developments in Libra’s regulatory compliance, these FinCEN and OCC actions may change regulatory compliance from a perceived weakness to a strength for Libra.

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