FinCEN acting director says PATRIOT Act provision isn't 'right sized' for cry...
Him Das said FinCEN’s current authority under the PATRIOT Act would likely not stop actors from engaging in illicit transactions for ransomware attacks and darknet markets. Him Das, the acting director of the United States Financial Crimes Enforcement Network, or FinCEN, said some of the government bureau’s tools to fight money laundering and terrorism financing may be ill suited for crypto.In a Thursday hearing of the House Financial Services Committee on "Oversight of the Financial Crimes Enforcement Network," Das addressed concerns from lawmakers regarding FinCEN’s authority to pursue....
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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,....
Following the Financial Crimes Enforcement Network (FinCEN) explaining the misuse of cryptocurrencies is a national priority last week, the bureau announced on Tuesday it hired its first-ever chief digital currency advisor. FinCEN’s acting director Michael Mosier detailed that Michele Korver will be the bureau’s new crypto expert and she brings “a wealth of digital currency expertise.” FinCEN Enlists Former DOJ Digital Currency Counsel as New Chief Digital Currency Advisor FinCEN, the U.S. regulator that combats domestic and international financial crimes, has....
"Prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people," said FinCEN acting director Him Das. The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine.In a Monday alert, FinCEN reminded U.S.-based financial institutions “with visibility into cryptocurrency” and convertible virtual currency, or CVC, to....
The controversial section 215 of the Patriot Act which has allowed mass collection of American's phone call metadata is set for reform or expiry by the first of June, does it really matter? The United States Court of Appeals for the Second Circuit ruled on Thursday that the bulk collection of Americans’ phone metadata by the NSA was NOT in fact authorized by section 215 of the Patriot Act, despite surveillance supporters' claims to the contrary. The ruling continues, “We do so comfortably in the full understanding that if Congress chooses to authorize such a far-reaching and unprecedented....
The Financial Crimes Enforcement Network (FinCEN) has been to date one of the most active - and more controversial - US federal agencies to address the bitcoin ecosystem, doing so through a number of published rulings aiming to provide clarity to the industry. Founded in 1990, the US agency is responsible for collecting information about financial transactions that may be used to support money laundering, terrorist financing and financial crimes. FinCEN first addressed emerging virtual currencies in 2008 and has been simultaneously praised for engaging with the bitcoin ecosystem, while....