Proposal on Convertible Virtual Currency and/or Digital Assets

FinCEN recently announced a Notice of Proposed Rulemaking (NPR) regarding “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets”.  While the comment period ended on January 4th, this proposal gives us some insight into what FinCEN is thinking with regard to the compliance complexities and challenges presented by virtual currency and digital assets.  This is an emerging and continually evolving area that financial institutions need to spend some time and effort.

Listen to Deb explain more about what this NPR entails.

This is just a proposal. Stay tuned!

Find more BSA Resources here – https://www.bankerscompliance.com/regulations-we-cover/the-bank-secrecy-act-bsa/

Published
2021/01/08

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