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FinCEN Adds ‘Money Transmitter’ Tag to Virtual Currency ...

The Financial Crimes Enforcement Network (FinCEN) recently released new guidelines for bitcoin payment processors and trading exchanges

. As per the U.S. law, such virtual currency companies may be considered as money services businesses. The chief U.S. money laundering and terrorist financing regulator expressed that bitcoin exchanges may act as money transmitters even though theses exchanges...

Website: https://letstalkpayments.com

What is Money Transmission and Why Does it Matter? | Coin ...

Attorney Marco Santori explains how the current state of money transmission laws in the U.S. can affect digital currency startups.

By Marco Santori / April 7, 2015

When digital currency entrepreneurs today decry the regulation that is "stifling innovation" in their industry, they're usually talking about money transmission regulation. Money transmission regulation exists at both the state and...

Website: https://coincenter.org

TAKING YOUR DIGITAL CURRENCY BUSINESS TO THE US - diacle

If you are in cryptocurrency and want to service the US market then a registration with The Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB) is usually a pre-requisite.

By registering as a MSB at a federal level, your next question should be whether you are required to register at a state level too. Make sure that you are you clear in which states you will be...

Website: https://www.diacle.com

GUBLOCKCHAIN NEWSLETTER

Welcome to GUBlockchain Newsletter!

GUBlockchain aims to be the world leader in blockchain currency information.� It should be noted that in no way is GUBlockchain.com operating as an e-currency dealer/exchanger including the sale of electronic media ofexchange (such as electronic money or digital currency), Money Service Business, currency exchange, bureau de change, or check cashing business, including the sale of Blockchain.�

GUBlockchain provides technical analysis of blockchain currency charts for informational purposes only, and in no way...

Website: https://www.gublockchain.com

The History of the Mt Gox Hack: Bitcoin's Biggest Heist

Andrew Norry on November 29, 2017 / 0 Comments

Post Views: 10,457

At the beginning of 2014, Mt Gox, a bitcoin exchange based in Japan, was the largest bitcoin exchange in the world, handling over 70% of all bitcoin transactions worldwide. By the end of February of that year, it was bankrupt.

The victim of a massive hack, Mt. Gox...

Website: https://blockonomi.com

The Economic Case for Conservative Bitcoin Development ...

Sep 19, 2017 at 09:00 UTC

OPINION

Ariel Deschapell is a full-stack javascript developer teaching at the Ironhack coding bootcamp in Miami, and a recent Henry Hazlitt fellow in Digital Development at the Foundation for Economic Education.

In this opinion piece,�Deschapell discusses the tensions underlying bitcoin's scaling debate, arguing those who have approached the protocol's design with more...

Website: https://www.coindesk.com

Feds Indict Russian Over BTC-e Bitcoin Exchange

Anti-Money Laundering (AML) , Compliance , Fraud

Feds Indict Russian Over BTC-e Bitcoin Exchange

Greek Police Arrest Man, Accused of $4 Billion in Bitcoin Money Laundering Mathew J. Schwartz ( euroinfosec ) o July 27, 2017 � �

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Police in Greece on Tuesday arrested Alexander Vinnik, 38, for allegedly running a massive money laundering operation that processed $4...

Website: https://www.bankinfosecurity.com

How to Accept Bitcoin at Your Law Firm - Clio

How to Accept Bitcoin at Your Law Firm

Written by Teresa Matich, posted on

December 7, 2017

Ethereum. Bitcoin. Dogecoin .

With over 1,300 cryptocurrencies and counting now available, it can be hard to keep track of what's what. But with the market for cryptocurrencies exploding , your clients may soon want to pay you in bitcoin or other cryptocurrencies, so it's worth getting educated.

At the...

Website: https://www.clio.com

Bitcoin Wallets – Best Guide, Reviews, Info and Comparison

4.3.10 Using Mycelium With Hardware Wallets

What is a Bitcoin Wallet?

A Bitcoin wallet is simply a vault where Bitcoins can be stored. The vault could either be in form of a software or hardware.

Technically, it should be understood that Bitcoins are not actually stored in the vault, but there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the...

Website: https://bitcoinexchangeguide.com

What Community Bankers Should Know About Virtual ...

The virtual currency landscape includes many participants, from the merchant that accepts the virtual currency, to the intermediary that exchanges the virtual currency on behalf of the merchant, to the exchange that actually converts the virtual currency to real currency, to the electronic wallet provider that holds the virtual currency on behalf of its owner. Accordingly, opportunities abound...

Website: https://www.communitybankingconnections.org

Coinbase is the Bank of Bitcoin | BitReview.com

Insured USD and bitcoin wallets

Liquid, low-fee exchange in multiple currencies

Integrated Debit Card

Make $100 in trades and get $10 in bitcoin free!

Summary

Coinbase's $75m venture funding round in January 2015 dwarfs the financial backing of any competitor, and places company value at $400m. This represents the speculation, amongst a variety of financial industry heavyweights, that Coinbase is...

Date: 2017-12-20 01:03:22
Website: bitreview.com

Russian national and bitcoin exchange indicted in multi ...

Russian national and bitcoin exchange indicted in multi-billion dollar money laundering scheme

SAN FRANCISCO - A Russian national and a bitcoin exchange he allegedly ran have been indicted by a Bay Area federal grand jury on a battery of charges, including money laundering and operating an unlicensed money service business, following a multi-agency probe that included U.S. Immigration and Customs...

Date: 2018-01-11 21:33:19
Website: https://www.ice.gov

Bitcoin creating virtual Wild West

Anonymous cyber world spawning enterprising fraudsters

Future Fraud Trends: Schemes on the horizon

©Thinkstock

This new column will describe new directions that will broaden our anti-fraud knowledge. -- ed.

On Oct. 2, 2013, the FBI shut down the Silk Road website and charged its 29-year-old operator, "Dread Pirate Roberts," with drug trafficking ...

Website: http://www.acfe.com

New FinCEN Guidance Changes Regulatory Landscape for ...

New FinCEN Guidance Changes Regulatory Landscape for Virtual Currencies and Some Prepaid Programs

03.22.2013

Updates

Overview

To address a perceived gap in regulatory treatment of increasingly popular virtual currencies, including Bitcoin, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) released new guidance on March 18, 2013. The guidance represents the first...

Website: https://www.perkinscoie.com

Russian National And Bitcoin Exchange Charged In 21-Count ...

Russian National And Bitcoin Exchange Charged In 21-Count Indictment For Operating Alleged International Money Laundering Scheme And Allegedly Laundering Funds From Hack Of Mt. Gox

Defendant Alexander Vinnik Was Arrested in Greece to Face Charges in the United States; Bitcoin Exchange Alleged to Have Received Deposits Valued at Over $4 Billion

SAN FRANCISCO - A grand jury in the Northern District...

Date: 2017-12-20 02:31:23
Website: https://www.justice.gov

Home | BITCOIN LAW HUB

Commodities Law

Since 2015, the Commodity Futures Trading Commission ("CFTC") has defined bitcoin and other cryptocurrencies as commodities that are subject to CFTC prohibitions on interstate fraud and manipulation. In 2017, the CFTC determined that ICO tokens can be regulated as derivatives contracts. More >

Estate Planning Law

Each state has its own laws governing trusts, estates and probate...

Date: 2018-01-28 18:17:35
Website: http://www.bitcoinlawhub.com

Related topics : bitcoin exchange money transmitter

How and where to buy/sell bitcoins with cash instantly

Buy bitcoins with cash by instant money transfer

The fastest, easiest and comfortable way to buy bitcoin with cash without doubts is «Instant Cash Transfer» option. This method of converting USD/EUR/GBP and other national currencies to Bitcoins, Litecoins, Namecoins and Peercoins has the following advantages:

Incredibly big agents network worldwide. Thanks to our cooperation with MoneyPolo...

Website: https://help.247exchange.com

Bitcoin Virtual Currency: Unique Features Present Distinct ...

Bitcoin Virtual Currency: Unique Features Present Distinct Challenges for Deterring Illicit Activity by FBI

(U//FOUO) Bitcoin - A decentralized,1 peer-to-peer (P2P) network-based virtual currency -

provides a venue for individuals to generate, transfer, launder, and steal illicit funds with some

anonymity. Bitcoin offers many of the same challenges associated with other virtual currencies,

such...

Website: https://www.barnesandnoble.com

FinCEN fines BTC-e $110 million for violating anti-money ...

One of the largest digital currency traders in the world has been assessed a $110 million dollar civil money penalty by the Financial Crimes Enforcement Network (FinCEN) and the U.S. Attorney's Office of the Northern District of California.

BTC-e, or Canton Business Corporation (BTC-e), was the target of the Treasury's first action against a foreign-located money services business for knowingly...

Website: https://www.cyberscoop.com

File:Bitcoin-FBI.pdf - Wikispooks

Bitcoin Virtual Currency: Intelligence Unique Features Present Distinct Challenges for Deterring Illicit Activity

Executive Summary

Bitcoin - A decentralized, peer-to-peer (P2P) network-based virtual currency - provides a venue for individuals to generate, transfer, launder, and steal illicit funds with some anonymity. Bitcoin offers many of the same challenges associated with other virtual...

Date: 2017-12-18 17:48:54
Website: https://wikispooks.com

Bitcoin Mass Hysteria: The Disaster that Brought Down Mt ...

Bitcoin Mass Hysteria: The Disaster that Brought Down Mt. Gox

By John Kelleher | February 26, 2014 -- 12:33 PM EST

The� Bitcoin� world went into a panic on February 24 at 6:23 pm EST. That's when prominent Bitcoin blogger Ryan Selkis�made a post to his blog in which he described an unverified report that Mt.�Gox �- a popular Bitcoin exchange - may have lost nearly 745,000 BTC (the...

Website: https://www.investopedia.com

Best Bitcoin Wallets – Top 5 Storage Solutions | Bitcoin ...

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Bitcoin Wallets

First, the internet revolution made our mail boxes obsolete to the point to which millennials don't even know how to send letters anymore. Now, the same thing is happening to our money, hence to our wallets. This page will help our readers keep up with bitcoin wallet technology. So before you set one up, take a look at our guide on bitcoin wallets. Find out how bitcoin...

Website: http://bitcoinchaser.com

Press Release - January 17, 2017: DFS Grants Virtual ...

DFS GRANTS VIRTUAL CURRENCY LICENSE TO COINBASE, INC.

Five Virtual Currency Entities Have Received Approval by DFS to Operate in New York

Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of Coinbase, Inc., a wholly owned subsidiary of Coinbase Global, Inc., for a virtual currency and a...

Date: 2018-01-04 15:43:00
Website: http://www.dfs.ny.gov

Digital currency exchanger - Infogalactic: the planetary ...

5 External links

Regulatory issues

In 2004 three Australian -based digital currency exchange businesses voluntary shut down following an investigation by the Australian Securities and Investments Commission (ASIC). The ASIC viewed the services offered as legally requiring an Australian Financial Services License, which the companies lacked. [7]

In 2006, US-based digital currency exchange business...

Date: 2017-12-21 02:25:00
Website: https://infogalactic.com

Bitcoin is Completely Digital, but Physical Bitcoins Do ...

Bitcoin is a native of the internet, and thus it is digital in its entirety. This is something about money that the world had never seen. Before the Internet, all forms of money have been based on tangible objects.

It is therefore not surprising that you may fancy having physical Bitcoins. These you would share with friends and family as memorabilia collectibles. Thanks to ingenious...

Website: http://coinoutletatm.com

How to be a Bitcoin Broker & Make Money | Cryptorials

Recently launched WeRaise offers ICO promotion services - December 12, 2017

Many people who get hooked on digital currency become so passionate about the subject that they want to change their entire career to work in this industry. Of course there are many different ways you can go about doing that, but one of the most accessible and profitable career choices is to set yourself up as a Bitcoin...

Website: http://cryptorials.io

26 Resources