The DOJ, OFAC, FinCEN and the CFTC settled enforcement actions against Binance, its CEO and former CCO. The coordinated settlements addressed charges against the digital asset exchange for CFTC registration failures and for violations of the Bank Secrecy Act and International Emergency Economic Powers Act sanctions programs.
News & Insights
NFA directed member firms to a recent FinCEN Alert stressing the AML obligations of futures commission merchants and introducing brokers in the wake of recent Russia-related economic sanctions.
A derivative exchange specializing in the trading of products based on virtual currencies settled CFTC and FinCEN charges for operating as an unregistered futures commission merchant and for Bank Secrecy Act violations.
NFA recommended that its member futures commission merchants and introducing brokers review FinCEN's recently issued FAQ concerning customer due diligence in order to ensure that their AML programs meet CDD-related regulatory obligations
In a joint statement, the CFTC, FinCEN and the SEC reminded those engaged in digital asset transactions to comply with anti-money laundering and countering the financing of terrorism obligations under the Bank Secrecy Act.