The Financial Crimes Enforcement Community (FinCEN) has introduced new advice for custodial bitcoin exchanges and repayment processors, ruling that such companies may be considered money providers businesses under People law.
In an answer to twin letters submitted in late 2013, the main US money laundering and terrorist financing regulator explained that bitcoin exchanges might be money transmitters, should they only match purchasers and sellers on the platform even. Further, the letters suggest this really is true, even when the exchanges behave a lot more like traditional securities or commodities exchanges, where no cash is transferred involving the ongoing organization and any counterparty.
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