A trio of U.S. regulators is urging exchanges and other firms handling cryptocurrency transactions to read up on rules for counteracting money laundering and terrorism financing.
Companies engaging in digital asset-related activities could have anti-money laundering and countering terrorist financing obligations under the Bank Secrecy Act, regardless of what they call themselves or the virtual currency they’re working with, the regulators said Oct. 11. The joint statement came from the leaders of the Commodity Futures Trading Commission, Securities and Exchange Commission, and the Financial Crimes Enforcement Network (FinCEN), which administers the Bank Secrecy Act.
The law’s requirements “apply very broadly ...
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