FinCEN further extended the reopened comment periods on a proposal concerning transactions that involve certain convertible virtual currency and digital assets with legal tender status.
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Congressmen Steve Pearce (R-NM) and Blaine Luetkemar (R-MO) introduced legislation that would increase reporting thresholds for financial institutions subject to the Bank Secrecy Act, and provide a temporary safe harbor for violations of the Customer Due Diligence rule.
The Financial Crimes Enforcement Network solicited comments regarding the renewal of regulations requiring depository institutions and insurance companies to report suspicious activity.
The Financial Crimes Enforcement Network issued an advisory to financial institutions on Bank Secrecy Act reporting obligations concerning cyber events and cyber-enabled crime.