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.
The CFTC and the DOJ charged the principal of a cryptocurrency escrow company for making false statements to two customers who had given the principal $7 million that their bitcoin would be "safeguarded" by his company.
The CFTC Division of Swap Dealer and Intermediary Oversight clarified the circumstances in which Customer Identification Program and Beneficial Ownership regulations under the Bank Secrecy Act do not apply to "voice" brokers.
The NFA urged futures commission merchants and independent brokers to revise their anti-money laundering programs to reflect the most current information on jurisdictions with strategic deficiencies identified by the Financial Action Task Force.
The New York Department of Financial Services requested comments on proposed revisions to cybersecurity rules that apply to a wide range of insurance, banking and financial services companies under its supervision.
Commentary by Joseph Facciponti
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