Questions tagged [fincen]
The fincen tag has no usage guidance.
10
questions
18
votes
7
answers
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 ...
- 705
8
votes
3
answers
867
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 ...
- 12.8k
7
votes
2
answers
529
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?
- 149
3
votes
1
answer
229
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?
- 2,849
3
votes
1
answer
270
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?
- 31
2
votes
1
answer
185
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 ...
- 21
2
votes
1
answer
291
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 ...
- 26.6k
2
votes
0
answers
303
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 ...
- 161
1
vote
3
answers
539
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 ...
0
votes
1
answer
711
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 ...
- 11