Questions tagged [fincen]

The tag has no usage guidance.

Filter by
Sorted by
Tagged with
2
votes
0answers
282 views

Is the BTC-e shutdown legal?

The FinCen, dependent of the Deparment of Treasury shut down the BTC-e exchange and prosecuted for: Violation of anti-money laundering (AML) laws; Acts of money laundering such as the MtGox scandal ...
2
votes
1answer
162 views

Does this FinCEN Document mean the Bitcoin Network is a bank?

Read this document and see if you think they are talking about Bitcoin. Here's an excerpt.. Any individual or group of people engaged in conducting, controlling, directing or owning an informal ...
0
votes
1answer
477 views

Is it illegal to trade Bitcoin OTC in the United States [duplicate]

I am considering selling Bitcoin OTC. As far as the legalities go, is it legal to anonymously trade Bitcoin for cash without taking KYC information and registering with FinCEN? I know all the "big ...
3
votes
1answer
260 views

Do bitcoin exchanges based outside of the US who serve US customers have to register with FinCEN as MSBs?

From what I understand, Bitstamp is not registered with FinCEN, whereas Mt.Gox is, does this mean Bitstamp is in danger of being shut down?
1
vote
3answers
498 views

Need an explanation as to why the exchange of BTC for USD is legal

Many have asked if the exchange of BTC for USD is legal, and they will cry "legal" and simultaneously cite FinCEN's regulations for a MSB. However, they never explain if an individual trading BTC ...
7
votes
2answers
519 views

Does an exchange of only virtual currencies fall under FinCEN regulations?

If a business only exchanges between say bitcoin, litecoin and namecoin. No fiat currencies. Does it still fall under finCEN's regulations?
3
votes
1answer
211 views

Do US based exchanges need to file as an MSB with FinCen?

What other legal requirements are there and what are the costs of compliance?
2
votes
1answer
266 views

Do private people mining or exchanging Bitcoin with Fiat fall under FINCEN's definition of “user”?

Fincen's March 2013 report defines: A user is a person that obtains virtual currency to purchase goods or services. An exchanger is a person engaged as a business in the exchange of virtual currency ...
18
votes
7answers
7k views

Do USA-based miners need to register with FinCEN?

As seen in recent news, FinCEN has issued a statement on its classification of virtual currencies: http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html Hypothetically suppose I mine ...
8
votes
3answers
716 views

When should an individual or business file a SAR with FinCen?

In the United States, both Individuals and Businesses are required to file a Suspicious Activity Report (SAR) with FinCen when: Individuals who transport more than $10,000 into or out of the United ...