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FinCEN Warns Virtual Currency Exchangers They Must Register as MSBs
By Colby Adams
printU.S. officials have sent formal warning letters to a number of virtual currency firms it suspects have failed to register as money services businesses, the head of the nation's financial intelligence unit said Tuesday. In March, the Financial Crimes Enforcement Network issued guidance classifying virtual currency firms as money services businesses, obligating them to register with the agency within 180 days of formation, implement anti-money laundering programs and seek money transmitter licenses from the states in which they operate. "Just within the last week we have sent letters to several of the domestic exchangers indicating that we thought they needed...
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