Former Chainalysis CTO Selected To Lead FinCEN, Signaling New Bitcoin Regulat...
In selecting a former blockchain analysis executive to lead the agency, FinCEN has signaled that it wants to increase Bitcoin regulations.Michael Mosier, who led blockchain analysis firm Chainalysis as its chief technology officer from June 2019 to February 2020, has been selected as the incoming acting director of the Financial Crimes Enforcement Network (FinCEN).Mosier has held a litany of financial regulatory roles, including as a counselor to the Deputy Secretary of the Treasury, deputy director and digital innovation officer of FinCEN, associate director at the U.S. Treasury's Office....
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Michael Mosier will replace Kenneth Blanco as the U.S. government agency’s acting director. The current acting director of the Financial Crimes Enforcement Network, or FinCEN, will bid farewell to the governing body in April. His replacement: Michael Mosier, Chainalysis’ former chief technical counsel. “Director Kenneth A. Blanco today announced several leadership changes impacting the bureau,” said a public statement from FinCEN on Friday, adding:“Director Blanco announced he will depart FinCEN on April 9, after serving as the organization’s director since December 2017. Michael Mosier,....
The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN, a bureau of the U.S. Department of the Treasury, issued a notice on Thursday regarding a new filing requirement for cryptocurrencies. FinCEN detailed: Currently, the Report of Foreign Bank and Financial Accounts (FBAR) regulations do not define a foreign account holding virtual currency as a type of....
Blockchain data platform Chainalysis has announced that it is adding bitcoin to its corporate investment portfolio. This is the company’s first acquisition of cryptocurrency, the CEO revealed. Chainalysis is valued at $4.2 billion.
Chainalysis’ First Acquisition of Cryptocurrency
Blockchain data analytics firm Chainalysis announced Tuesday the addition of bitcoin to its balance sheet.
Chainalysis will acquire bitcoin using the brokerage services of the New York Digital Investment Group (NYDIG), the bitcoin investment arm of Stone Ridge Asset Management.....
Up until this point, FinCEN has clearly defined projects related to digital currency and Bitcoin do not fall in the same category as prepaid access sellers or providers. The Bitcoin Classic hard fork solution could lead to legal trouble down the line. Or that was the assumption at least, even though no one was able to confirm this statement at that time. An interesting question was raised, though, and the answer will put a lot of people’s mind at ease: the current FinCEN guidelines will not get developers in legal trouble. Most of this discussion started from the point of view that hard....
FinCEN has released two new Virtual Currency Guidance notes today. FIN-2014-R011 and FIN-2014-R2012 both detail FinCEN's response to requests "for Administrative Ruling on the Application of FinCEN's Regulations to Virtual Currency" Trading Platforms and Payment Systems. FinCEN has clarified that both would require a money transmitter license under their federal rules. FinCEN's clarifications, presented by Jamal El-Hindi, the Associate Director of FinCEN's Policy Division, may be the precursor to a new wave of Bitcoin company crackdowns. Recently, the SEC revealed that there were ongoing....