In a major step toward establishing regulatory clarity for digital assets, the House of Representatives passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act on Thursday, July 17, alongside...more
On July 25, 2024, the federal banking agencies issued a joint statement flagging potential risks in bank-fintech arrangements, along with a request for public information (RFI) on the benefits, risks, and risk management...more
7/31/2024
/ Banking Sector ,
Comment Period ,
Compliance ,
Federal Bank Regulatory Agencies ,
Financial Institutions ,
FinTech ,
Joint Statements ,
Public Comment ,
Request For Information ,
Risk Assessment ,
Risk Management
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced yesterday that they had reached settlements for over $24 million and $29 million,...more
10/14/2022
/ Bank Secrecy Act ,
BSA/AML ,
Compliance ,
Crypto Exchanges ,
Cryptocurrency ,
Economic Sanctions ,
Financial Institutions ,
FinCEN ,
Jurisdiction ,
Money Transmitter ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Reporting Requirements ,
Settlement ,
Suspicious Activity Reports (SARs) ,
Trading Platforms ,
U.S. Treasury ,
Willful Violations