Bitcoin and other digital currency transactions subject to Bank Secrecy Act in U.S.

Tweet The US Financial Crimes Enforcement Network (“FinCEN“) has issued its interpretive guidance on the applicability of digital (or virtual) currencies, the most popular of which is Bitcoin, to the Bank Secrecy Act (“BSA“). Pursuant to the Guidance, a person or entity that: (1) exchanges; or (2) administers digital currency or Bitcoin, is a money […]

IIROC releases anti-money laundering guide for securities dealers

Tweet The Investment Industry Regulatory Organization of Canada¬†has published a new anti-money laundering guidance brochure that provides some background information on the Canadian anti-money laundering and terrorist financing requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act applicable to dealers in Canada. The new brochure replaces the IDA’s 2002 “Deterring Money Laundering […]