News & Analysis as of

Money Transmitter Reporting Requirements U.S. Treasury

Orrick, Herrington & Sutcliffe LLP

FinCEN requires several southwest counties to report cash transactions over $200

On March 11, FinCEN issued a Geographic Targeting Order (GTO) to combat “illicit activities and money laundering of Mexico-based cartels” along the U.S. southwest border. The order requires money service businesses in select...more

Buchalter

FinCEN Lowers Reporting Threshold for MSBs Near U.S.-Mexico Border to Combat Money Laundering

Buchalter on

On March 11, 2025, the Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) requiring all money services businesses (MSBs) operating within 30 specified ZIP codes near the U.S.-Mexico border...more

Venable LLP

Treasury Doubles Up Enforcement Efforts Against Noncompliant Crypto Platforms

Venable LLP on

​​​​​​​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

Holland & Hart LLP

Crypto, DeFi, and Money Transmitter Laws: Navigating the Maze

Holland & Hart LLP on

On January 1, 2021, the Anti-Money Laundering Act of 2020 became law. Under the law, Congress gave the Treasury Department power to declare that cryptocurrency is a monetary instrument and that certain cryptocurrency...more

McGlinchey Stafford

Scared Of Your Clients’ Involvement With Cryptocurrency?

McGlinchey Stafford on

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

McDermott Will & Emery

Rapidly Shifting Regulatory Landscape for Virtual Currencies | Market Participants: Stay Tuned

McDermott Will & Emery on

As US regulators have been active in terms of virtual currency regulation, there are three important updates to which attention should be paid. The New York State DFS guidance, the FinCEN letter to Senator Wyden and the...more

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