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Bank Secrecy Act › Digital Currency › Anti-Money Laundering

The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide... more +
The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide documentation to authorities for single transactions of more than $10,000 and report other suspicious account activity that could signify money laundering or other financial crimes. less -
Morrison & Foerster LLP

Crypto-Asset Safekeeping: What’s Involved If You’re a Bank (or if You Want to Be One)

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On July 14, 2025, the federal banking agencies issued a joint statement to clarify regulatory expectations for banking organizations that provide or are considering providing safekeeping for crypto-assets (“Joint Statement”)....more

Paul Hastings LLP

State-Level Developments: The Regulatory Landscape for Digital Assets

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As we begin the 119th Congress, the nation is also preparing for the new administration to take office in just a few weeks. While federal action on digital assets remains a key focus, this week’s Crypto Policy Tracker shifts...more

Harris Beach Murtha PLLC

Potential BSA/AML Roadmap – Crypto Exchange Bittrex Enforcement Actions

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The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) and Office of Foreign Assets Control (“OFAC”) settled enforcement actions with Washington state-based Bittrex. In the two settlements, Bittrex...more

Herbert Smith Freehills Kramer

FinCEN Warns of Russian Sanctions Evasion Attempts and Provides Guidance for Increased Vigilance

Herbert Smith Freehills Kramer on

On March 7, 2022, the Financial Crimes Enforcement Network (FinCEN) of the Treasury Department published guidance on increased vigilance for potential Russian sanctions evasion attempts. The FinCEN Alert follows the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptocurrency Regulation and Enforcement at the US Federal and State Levels

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In recent months, the increased focus on cryptocurrency regulation and enforcement at both the federal and state levels demonstrates the digital currency’s place as an established component of the financial landscape. At the...more

Ballard Spahr LLP

FinCEN Appoints “First-Ever Chief Digital Currency Advisor”

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Today, the Financial Crimes Enforcement Network (“FinCEN”) issued a press release, announcing leadership additions to FinCEN. This post merely repeats that press release, without further comment or analysis — other than to...more

McGlinchey Stafford

Scared Of Your Clients’ Involvement With Cryptocurrency?

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Cryptocurrency, and its most-noted asset Bitcoin, has been breaking into the mainstream press. While most lawyers have heard terms like “blockchain” and probably even know a few people who have been deeply interested in the...more

BakerHostetler

Multiple Enterprise Blockchain Applications Announced, SEC and CFTC Issue Guidance and Enforcement Actions

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Blockchains on Broadway, Smart Contracts Make Headway, Food Supply Chain and Health Applications Continue - The National Science Foundation has awarded SimplyVitalHealth Inc. a grant to further develop its blockchain...more

Orrick - On the Chain

FinCEN’s New Guidance for Cryptocurrency Businesses – Some Questions Answered, Some New Questions Raised, Careful Consideration a...

Orrick - On the Chain on

Last month, the Financial Crimes Enforcement Network (FinCEN) released new guidance to clarify when the Bank Secrecy Act (BSA) will apply to businesses that involve cryptocurrencies (what FinCEN refers to as convertible...more

Ballard Spahr LLP

New FinCEN Cryptocurrency Guidance Provides Comprehensive Overview of BSA Application to Crypto Businesses

Ballard Spahr LLP on

Some Answers — Producing Even More Questions - On May 9, 2019, the Financial Crimes Enforcement Network (“FinCEN”) published a comprehensive “interpretive guidance” (the “Guidance”) to “remind” businesses and individuals...more

Bradley Arant Boult Cummings LLP

To Catch a Terrorist – Innovation, AI, and Public/Private Partnerships in the World of BSA/AML

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On the heels of FinCen and Federal Banking Agencies releasing a joint statement “Encouraging Innovative Industry Approaches to AML Compliance,” Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker...more

Ballard Spahr LLP

FinCEN Director Addresses Virtual Currency and Touts Regulatory Leadership and Value of SAR Filings

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Address Emphasizes Role of SARs in Fighting Illegal Activity, Including Drug Dealing Fueling the Opioid Crisis - Kenneth Blanco, the Director of the Financial Crimes Enforcement Network (“FinCEN”), discussed last week...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Notwithstanding Lloyd’s assurances that the rumors of his demise are premature, Goldman has cleared the path forward for David Solomon (aka, one of its current co-Presidents, aka, DJ D-Sol) to assume the CEO position when Mr....more

Proskauer - Blockchain and the Law

U.S. Treasury to Review FinCEN’s Cryptocurrency Practices

Proskauer - Blockchain and the Law on

In October, the U.S. Department of the Treasury (the “Treasury”) released its Annual Plan, outlining the Office of Inspector General’s audit and investigative priorities for fiscal year 2018. The Annual Plan notes that...more

Ballard Spahr LLP

AML/BSA Focus by U.S. Senate Committee Testimony – From Beneficial Ownership to Cryptocurrency

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This week, the U.S. Senate Committee on the Judiciary and the U.S. Senate Committee on Banking, Housing and Urban Affairs held hearings focused in part on Anti-Money Laundering (“AML”) and the Bank Secrecy Act (“BSA”)....more

Blank Rome LLP

The FinTech Revolution: The Impact of Blockchain Technology on Regulatory Enforcement

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A bedrock of the FinTech revolution is blockchain technology—a digital, decentralized ledger of all transactions that take place across a peer-to-peer network of computers. The ledger is visible to anyone within the network,...more

Ballard Spahr LLP

Combating Money Laundering and Terrorist Financing with a Distributed Ledger

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Despite the staggering $8 billion figure estimated to be spent on global compliance in 2017, U.S.-based rules regarding Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) remain anchored in their...more

Ballard Spahr LLP

2016 Year in Review: Money Laundering (Part Two)

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In part two of our review of the 2016 developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues, we discuss four additional key topics... ...more

BakerHostetler

Digital Currency Exchange Customers Targeted in IRS Information-Gathering Sweep

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Coinbase, one of the largest digital currency exchange companies in the world, will likely be asked to provide the Internal Revenue Service (IRS) with transactional data and other information on all U.S. customers who used...more

Spilman Thomas & Battle, PLLC

Digital Currencies and Blockchain Technology Threaten to Disrupt Traditional Banking Services

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To most people, the concept of digital currencies is synonymous with the name Bitcoin. However, hundreds of digital currencies exist. In fact, WorldCoinIndex.com tracks 445 currencies, and CoinMarketCap.com tracks 732....more

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