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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.

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.

Commentary by Christian Larson

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