In the upcoming tech sprint, which doesn't yet have a specific start date, participants will be asked to come up with a “scalable, cost-efficient, risk-based solution to measure the effectiveness of digital identity proofing to ensure that individuals who remotely (i.e. not in person) present themselves for financial activities are who they claim to be.” Source link … [Read more...] about FinCEN, FDIC to Hold ‘Tech Sprint’ for Digital Identity Tools
FinCEN
Ramp expands presence in US with FinCEN regulation
On Tuesday, crypto-fiat gateway payments platform Ramp announced that its U.S. subsidiary Ramp Swaps LLC hadreceived its registration as a Money Service Business with the Department of Treasury's Financial Crimes Enforcement Network. The regulatory greenlight enables Ramp to do business in 38 states across the U.S. Besides the development, Ramp also has regulatory clearance … [Read more...] about Ramp expands presence in US with FinCEN regulation
DoJ’s crypto czar joins FinCEN in brand-new role: Why it matters
In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.Talk about ending a stellar career at the United States Department of Justice with a bang. The … [Read more...] about DoJ’s crypto czar joins FinCEN in brand-new role: Why it matters
FinCEN lists cryptocurrencies as top AML and CFT priorities
The United States’ Financial Crimes Enforcement Network will continue to closely follow the cryptocurrency industry as one of its top priorities for combating crimes like money laundering.FinCEN officially announced Thursday that “virtual currency considerations,” or operations involving cryptocurrencies like Bitcoin (BTC), will be among its top national priorities for … [Read more...] about FinCEN lists cryptocurrencies as top AML and CFT priorities