FinCEN's proposed regulation of virtual assets | White & Case LLP
To embed, copy and paste the code into your website or blog: A controversial proposed rule from the Financial Crimes Enforcement Network would bring bank-like regulation of virtual asset transactions, including the first broadly-applied AML reporting requirement in at least two decades. However, it does not appear to account for the differences in technology that separate transactions involving digital assets from transactions that leverage traditional payments rails – nor does it appear to appreciate the significant costs to industry to fully implement the proposed rule. FinCEN's Proposed ...
Source: jdsupra.com