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.
News & Insights
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.
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 Financial Crimes Enforcement Network adopted final rules under the Bank Secrecy Act in order to clarify and strengthen due diligence requirements concerning the identification of the beneficial owners of certain legal entities.
The Financial Crimes Enforcement Network issued an advisory to financial institutions on Bank Secrecy Act reporting obligations concerning cyber events and cyber-enabled crime.