FinCEN severs MEXC crypto exchange from U.S. financial system
FinCEN labeled a convertible virtual currency exchange as a financial institution of primary money laundering concern, effectively severing its ties ...
Tag: Cryptocurrency
FinCEN, Fed withdraw proposal to lower international fund transfer recordkeeping threshold
FinCEN and the Federal Reserve are withdrawing a proposed rule that would have significantly shrunk the dollar threshold for banks ...
ABA, associations seek more time to comment on proposed SEC crypto custody rules
ABA joined five associations in urging the SEC to extend the comment deadline for its proposed crypto custody rules, saying ...
Kelly calls on bankers to ‘advocate, innovate and partner’
In his final speech as ABA Chairman, Kenneth Kelly, chairman and CEO of First Independence Bank in Detroit, Michigan, highlighted ...
The real value of bank deposits goes beyond yield
Bank deposits deliver different — and more — value than stablecoins do. Comparing them on only one dimension obscures the ...
Crypto exchange agrees to shut down ‘crypto ATMs’ as part of settlement
The cryptocurrency exchange Coinme has agreed to close down its virtual currency kiosk operations in multiple states as part of ...
FinCEN withdraws proposals on crypto recordkeeping
FinCEN is withdrawing two proposed rules that would have created new recordkeeping requirements for financial institutions for certain transactions involving ...
House committee removes proposed tax deferral for digital asset rewards
House lawmakers removed a provision from a tax package that would have permitted entities involved in the staking and mining ...
With failure on procedural motion, Clarity Act’s future is uncertain
The Senate voted 50-49 against ending debate on the Clarity Act. By failing to reach the 60-vote threshold needed for ...
FinCEN identifies nearly $13B in suspected crypto investment scams
Bank Secrecy Act reports flagged approximately $12.7 billion in suspected digital asset investment scam activity during a roughly two-year period ...
