All posts tagged "FinCEN"
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80AML / KYCUS Lawmakers Call for ‘War-like Footing’ Against Corruption
In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.
May 6, 2021 -
257AML / KYCAustralia Scraps Plan to Introduce Beneficial Ownership Register
Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.
April 30, 2021 -
167AML / KYCFinCEN Consults on Beneficial Ownership Reporting Requirement
FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.
April 8, 2021 -
279EnforcementRipple, Top Execs File Responses to SEC Complaint
At meetings with crypto trading platforms as recently as 2019, SEC staff did not indicate it may have considered XRP a security, Ripple says.
March 7, 2021 -
222AML / KYC
GFI Offers Recommendations on Advancing FinCEN Reforms
Global Financial Integrity says money laundered from tax evasion and illicit funds entering the US financial system from overseas are estimated at $1tr.
March 6, 2021 -
299Fintech / Regtech
Ripple Files Response to US SEC Defending XRP as Virtual Currency
The response notes that the DOJ, FinCEN and regulators in the UK, Singapore and Japan have all concluded that XRP is a virtual currency not subject to securities regulation.
February 1, 2021 -
795AML / KYCAnti-Money Laundering a Priority for Incoming Treasury Secretary Yellen
Incoming Treasury Secretary Janet Yellen thanked Congress for passing the AMLA, widely considered to be the most significant overhaul of AML legislation in the US since 2001.
January 25, 2021 -
217Fintech / Regtech
US Regulators Call for Responsible Stablecoin Design, Operation
Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
December 31, 2020 -
387AML / KYCUPDATED – FinCEN Proposes Reporting, Recordkeeping Rules for Crypto
Under the proposed rule, FIs will have to keep records of customers' crypto transactions and counterparties, and whether they are using unhosted wallets.
December 24, 2020 -
517AML / KYCUS Congress Includes Corporate Transparency in Defence Bill
The legislation will establish reporting requirements on beneficial ownership information, which could effectively end anonymous shell companies in the US.
December 8, 2020
