“The U.S. Treasury Department’s anti-money laundering unit has mailed roughly a dozen letters to businesses linked to the digital currency Bitcoin warning they may be money transmitters and be required to comply with federal law and regulation, a Treasury spokesman told Compliance Complete. These letters, sent in recent weeks by Treasury’s Financial Crimes Enforcement Network (FinCEN), are a form of ‘industry outreach’ aimed at making Bitcoin businesses aware of their potential anti-money laundering compliance obligations, FinCEN spokesman Steve Hudak said.”
Related posts:
Bitcoin Mining Chips, a High-Tech Arms Race
Russia presents unharmed Syrians to inspectors as West condemns 'stunt'
Putin supports bill granting amnesty to white-collar criminals
Walmart may cancel three planned D.C. stores over 'livable wage' act
Unanimous juries for criminal convictions? Supreme Court declines case.
Medical research on animals often biased, scientists warn
EU warns Obama of ‘grave consequences’ facing Europeans from NSA intel scandal
The Twinkie, a Suicide
The Model Rockets That Need FAA Clearance to Launch
Georgia prepares to execute mentally disabled prisoner under secrecy law
Shock rockers Insane Clown Posse to sue FBI
Gold Smuggling to Climb in India on Tax Increase, Festivals
Bitcoin exchange Mt. Gox hit by $75 million lawsuit
Breakable, Barterable Bullion: The Gold Bar You Can Carry In Your Wallet And Use As Money
Arizona deputies bust pot 'compassion clubs'