Tag Archives: ICO

New FinCEN Cryptocurrency Guidance Clarifies Applicability of Anti-Money Laundering Regulations to Virtual Currency Business Models

The Financial Crimes Enforcement Network (FinCEN) is the U.S. Treasury Department bureau charged with monitoring financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes. Under FinCEN’s Bank Secrecy Act/Anti-Money Laundering regulations, money transmitters and other money service businesses are required to develop anti-money laundering/countering the financing of … Continue Reading

UK Information Commissioner’s Office Issues Guidance on Use of Encryption and Passwords in Connection with GDPR

The “security principle” under the General Data Protection Regulation (GDPR) requires that organizations process personal data securely by means of “appropriate” technical and organizational measures. This month, the United Kingdom’s Information Commissioner’s Office (ICO) issued new guidance focused on two specific measures the ICO recommends that companies consider in complying with the GDPR security requirements: … Continue Reading

Initial Coin Offerings and Cryptocurrencies Will be a Priority for FINRA in 2018

In a ten page letter that previews the Financial Industry Regulatory Authority’s (FINRA) priorities for 2018, initial coin offerings (ICOs) and transactions involving cryptocurrencies. This follows previous warnings by both the Securities and Exchange Commission (SEC) and FINRA about the risks associated with investing in ICOs and virtual currencies, including Bitcoin. SEC Chairman Jay Clayton … Continue Reading
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