News & Analysis as of July 19, 2025

Virtual Currency › Money Laundering › AML/CFT

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Regulations On Virtual Assets To Counter Proliferation Financing And Prevent Money Laundering

Awatif Mohammad Shoqi Advocates & Legal... on 2/17/2025

The advent and rise of cryptocurrency have been a disruptor to the traditional currency system. Even outside the virtual aspect of the currency, the concept is novel due to its accessibility and the level of anonymity...more

Hamas, Terrorist Financing, and Cryptocurrency

Ballard Spahr LLP on 12/8/2023

The October 7, 2023 attacks on Israel by Hamas have re-focused U.S. government efforts to identify and counter funding streams for Hamas and terrorist activity in general – including, in particular, through the use of...more

FinCEN Announces National AML/CFT Policy Priorities

Holland & Knight LLP on 7/7/2021

The Financial Crimes Enforcement Network (FinCEN) on June 30, 2021, issued national priorities for anti-money laundering (AML) and countering the financing of terrorism (CFT) policy (the Priorities), as required by the...more

Cryptocurrency 101 – DOJ’s New Cryptocurrency Enforcement Framework Provides Guidance And Promises Of Heightened Scrutiny Of...

Vinson & Elkins LLP on 10/22/2020

On October 8, 2020, the Attorney General’s Cyber-Digital Task Force (“the Task Force”) issued its Cryptocurrency Enforcement Framework (the “Report”), which offers background on virtual assets, enforcement milestones, and...more

FATF Identifies Red Flags for Virtual Assets and Money Laundering

Ballard Spahr LLP on 9/18/2020

The Financial Action Task Force (FATF) recently published a report titled Virtual Assets: Red Flag Indicators of Money Laundering and Terrorist Financing. The report discusses a number of red flag indicators of suspicious...more

FinCEN Sends Message to the Virtual Currency Industry: The Travel Rule Applies to You, Too

Orrick - On the Chain on 5/28/2020

FinCEN Director Ken Blanco addressed this year’s Consensus Blockchain Conference on May 13, 2020. In a set of prepared remarks, Blanco recognized the unprecedented challenges that the COVID-19 pandemic has created for...more

Treasury Report Targets Money Laundering Risks in Real Estate and Gatekeeper Professions

Ballard Spahr LLP on 3/5/2020

In its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”), the U.S. Department of Treasury (“Treasury”) has laid out its AML and money laundering enforcement priorities. Last week, we...more

UK FCA becomes AML/CFT crypto supervisor

Hogan Lovells on 1/21/2020

The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more

The implementation of the Fifth Anti Money Laundering Directive in German Law – Tighten the tight?

Orrick, Herrington & Sutcliffe LLP on 12/6/2019

In the course of the “Panama Paper” scandal, Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – known as 4. Anti-Money Laundering...more

In Case You Needed A Reminder – AML/CFT Regulations Apply to Transactions in Cryptocurrencies

Orrick - On the Chain on 11/6/2019

Earlier this month, the leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission released a joint statement reminding individuals...more

The Financial Action Task Force and Virtual Assets

Foodman CPAs & Advisors on 4/29/2019

The FATF (FATF) is an inter-governmental body with 38 members that sets standards and promotes the implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and threats...more

Comentarios del Director de FinCEN sobre las Deficiencias en el Cumplimiento de la Moneda Virtual

Foodman CPAs & Advisors on 12/6/2018

El 8 de agosto de 2018, el Director de FinCEN, Kenneth A. Blanco, pronunció un discurso en la Conferencia Técnica (Legal) Chicago-Kent Block 2018. Los puntos más destacados de sus comentarios incluyen...more

FinCEN’s Director Comments on Virtual Currency Compliance deficiencies

Foodman CPAs & Advisors on 9/10/2018

On August 8, 2018, FinCEN Director Kenneth A. Blanco, delivered a speech at the 2018 Chicago-Kent Block (Legal) Tech Conference. Highlights from the commentary include...more

G20 looks at October deadline for cryptocurrency AML regulation standards

Hogan Lovells on 7/30/2018

What has happened? G20 member countries are looking at an October deadline for reviewing a global anti-money laundering (AML) standard on cryptocurrency....more

Jersey issues ICO guidance

Hogan Lovells on 7/30/2018

What has happened? The Jersey Financial Services Commission (JFSC) has issued a guidance note on its approach to initial coin offerings (ICOs)....more

Combating Money Laundering and Terrorist Financing with a Distributed Ledger

Ballard Spahr LLP on 2/22/2017

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

Virtual Currencies: International Actions and Regulations

Perkins Coie on 10/5/2015

This chart is provided by Perkins Coie LLP’s Decentralized Virtual Currency industry practice group for informational purposes only and is not legal advice. This information is not intended to create, and receipt of it does...more

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Virtual Currency › Money Laundering › AML/CFT

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