Speaking at the anti-money launcdering conference in Washington, FinCEN Director Jennifer Shasky Calvery said the agency should focus on both tranditional payment methods and digital currency, which was used by ISIL to finance their operations.
FinCEN Director Jennifer Shasky Calvery spoke at the annual West Coast Anti-Money Laundering Forum and discussed the bureau’s ongoing work in the digital currency space.
The Financial Crimes Enforcement Network (FinCEN) assessed a $700,000 civil money penalty yesterday against Ripple Labs Inc for ‘willfully violating several requirements of the Bank Secrecy Act (BSA).’
On October 27, 2014 FinCEN issued two administrative rulings with respect to the application of its regulations on virtual currencies. These rulings are significant and guest columnist CoinXoXo helps you understand why.