Federal banking agencies are working to streamline Bank Secrecy Act rules through an interagency task force and expect results in the next three to six months, according to a senior U.S. regulator.
Individuals who charge a fee to exchange bitcoins and other cryptocurrencies for government-issued banknotes must register, comply with anti-money laundering rules and report suspicious transactions, same as any company, according to the U.S. Treasury Department.
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