FinCEN

The US Federal Reserve Board and Fincen are proposing to extend the definition of money to include cryptocurrency. This move might prove that financial regulators are willing to admit digital money as a payment method while opening up new possibilities for it. On the other hand, this might also mean a strengthening of control.

FinCEN and Greek police have revealed new details about the case of $4 billion money laundering via BTC-e exchange. BTC-e appeared to be connected with 300,000 BTC stolen from Mt. Gox.

Bitcoin exchanges, miners, and cryptocurrency-payment processors, operating in the United States are required to comply with federal Anti-Money Laundering (AML) laws.

The Portable Bitcoin ATM presented by LocalBitcoins in October 2016, may cause MSB compliance issues. In a conversation with CoinIdol.com, Anti-Money Laundering specialist Joe Ciccolo advised potential consumers to heed four warnings before they begin doing business with the portable Bitcoin ATM (BTM).