• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    mining

    Increased Demand Requires Increase in Nodes. Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

    Bitcoin wallet

    BitcoinOfficial.org- Create a Bitcoin Wallet. Official Website.

    Bitcoin price

    What Drives Bitcoin Price?

    Mining

    Railway Authorities in Ukraine Shut Down Unlawful Mining Outfit

    Bitcoin

    Economic Crises Will Not Affect Bitcoin: Ledger Founder

    Supply and Demand

    Bitcoin’s Demand and Supply Dynamics are Constant: Bitwise COO

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    price prediction

    Bitcoin, Ethereum, and Ripple Price Prediction in June 2020

    XTZ

    TEZOS (XTZ) Join the Top 10 Crypto Coin List

    MakerDAO

    MakerDAO to Implement New Security Feature After Loophole Detected in System

    BCH

    BCH Successfully Completed a Scheduled Fork, Added Minor Upgrades

    CUSD Stablecoin

    Canadian BVCI Launches Another Stablecoin CUSD

    EOS network

    EOS Network Is Running on Borrowed Resources After EIDOS Airdrop

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    How to Make the Right Decision before Investing in Crypto

    How to Make the Right Decision Before Investing in Crypto

    Decentralized Marketplace

    What are Decentralized Marketplaces?

    Cryptocurrency is Here to Stay

    5 Reasons Why Cryptocurrency Is Here to Stay

    Web3 Pets

    Spotlight on Web3 Pets – Will 2023 Be Their Year?

    Crypto Swapping

    A Definitive Guide on Swapping Cryptocurrency

    crypto casino games

    What Are the Most Profitable Crypto Casino Games?

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

US to Implement Crypto Rules Similar to FATF Procedure

Tony P. by Tony P.
November 19, 2019
in Latest News, Services

The Federal Government has put in motion plans to make sure that cryptocurrency rules are strictly enforced and followed, in a move similar to the standards recommended by the FATF (Financial Action Task Force). According to reliable sources, the Financial Crimes Enforcement Network (FinCEN) also reaffirmed that all its travel-related rules applied to the use of digital assets. In the meantime, stablecoins have been flagged by the Federal Reserve as a potential risk to the financial system in the United States, according to a new report.

FinCEN Expecting Compliance

The Financial Crimes Enforcement Network in the United States (FINCEN) plans to strictly enforce AML (anti-money laundering) rules on all digital assets, according to its director, Kenneth Blanco. Fincen functions as a bureau within the Treasury Department, with a mission to safeguard the financial system in the country by combating money laundering.

Cryptocurrency firms, including wallet service providers and crypto exchanges, are required by the bureau to regularly share their clientele information. The “Travel” rule, for instance, calls for all companies to verify the identity of their clients, identify the people who will benefit from the fund transfers, as well as identify the original parties. The rule applies to all transactions that are above $3,000.

On Friday, Blanco, while attending a conference hosted by Chainalysis, the blockchain analysis firm stated:

“It (travel rule) applies to CVCs (convertible virtual currencies) and we expect that you will comply period. That’s what our expectation is. You will comply. I don’t know what the shock is. This is nothing new,” Blanco reiterated.

The Travel Rule and FATF Standards

The anti-money laundering rules enforced by the Financial Crime Enforcement Network are quite similar to the rules recommended by the FATF. The FATF is a policy-making body made up of various governmental agencies. It is tasked with developing international standards that can be used to battle money laundering, as well as stop individuals and entities from financing terrorists. New guidelines on digital assets were issued by the FATF in June 2019.

Featured image: tradingpeek.com

Tags: FATFFINCENUS. Crypto rules
Previous Post

Railway Authorities in Ukraine Shut Down Unlawful Mining Outfit

Next Post

Paraguay Planning a Major Overhaul of Crypto Legislation

Tony P.

Tony P.

Invest at your own risk notice : The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

Related Posts

CZ tweets on FTX

CZ tweets on FTX: “Sad day. Tried, but [crying emoji]”

by Hellen
November 10, 2022

CZ, the CEO of Binance, tweets, "Sad day. Tried, but ," regarding the fully acquire of FTX.com.  https://twitter.com/cz_binance/status/1590463239925944320 On...

Google Cloud Is Indexing Solana Data

Google Cloud Is Indexing Solana Data and Bringing it to BigQuery

by Hellen
November 8, 2022

Google Cloud has announced that it is working with Solana to bring Blockchain Node Engine to the Solana chain next...

Mark Zuckerberg’s Meta Mismanagement Ruined the Stock Price

by Hellen
October 27, 2022

If you checked the stock market, Meta's stock has reached $114.20. Not bad, some would say. But considering that the...

What Is “Play-to-Earn” Gaming?

by Hellen
May 19, 2022

To think about all the ways that life has changed over the last twenty years thanks to the unprecedented rise...

how to use a Bitcoin ATM

Ultimate Guide on How to Use a Bitcoin ATM in 2022

by Anca F.
March 8, 2022

If you are interested in using an ATM to quickly cash out or buy Bitcoins, there are several ways in...

health blockchain

Patient Data-Ownership Movement Launched

by Hellen
April 15, 2021

EHR Data has been hard at work for the past couple of years in developing a global healthcare database on...

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

Guides & Reviews

How to Make the Right Decision before Investing in Crypto

How to Make the Right Decision Before Investing in Crypto

January 18, 2023
Decentralized Marketplace

What are Decentralized Marketplaces?

January 16, 2023
Cryptocurrency is Here to Stay

5 Reasons Why Cryptocurrency Is Here to Stay

January 11, 2023
Web3 Pets

Spotlight on Web3 Pets – Will 2023 Be Their Year?

January 10, 2023
  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.