“Financial Crime Enforcement Network Director Jennifer Shasky Calvery said Wednesday that Internal Revenue Service examiners are conducting banklike exams of virtual currency firms for possible anti-money-laundering violations. Her speech comes just after the agency levied a $700,000 fine against prominent virtual currency company Ripple Labs on Tuesday night for alleged violations of the Bank Secrecy Act, including failing to report suspicious activity. Calvery first mentioned the exams earlier this year while speaking on a panel at a Council on Foreign Relations event on cryptocurrency policy, but the remarks were not widely known.”
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