FinCEN has ordered that all money service businesses involved in crypto space to provide all client data. A move to curb unlawful activities via the the used of cryptocurrencies. The United States Financial Crimes Enforcement Network (FinCEN) has instructed that all money services businesses (MSBs), including Bitcoin (BTC) trading venues to start transmitting certain customer info for transactions up to $3,000 or higher. These efforts from the agency are to curb the use of blockchain-based virtual currencies for unlawful activities such as money laundering. It is noted as the new funds “travel rule”, which will be taking effect from June 2020, according to FinTech Futures. FinCEN Director Kenneth Blanco said : The travel rule applies to CVC’s (convertible virtual currencies) and we expect that you will comply- period. That’s what our expectation is. You will comply. I don’t know what the shock is. This is nothing new. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next US Dollar Index Technical Analysis: DXY climbing to daily highs towards the 98.00 handle FX Street 3 years FinCEN has ordered that all money service businesses involved in crypto space to provide all client data. A move to curb unlawful activities via the the used of cryptocurrencies. The United States Financial Crimes Enforcement Network (FinCEN) has instructed that all money services businesses (MSBs), including Bitcoin (BTC) trading venues to start transmitting certain customer info for transactions up to $3,000 or higher. These efforts from the agency are to curb the use of blockchain-based virtual currencies for unlawful activities such as money laundering. It is noted as the new funds "travel rule", which will be taking… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
