Three years ago this past Friday (03/18), FinCEN released its regulatory guidance on digital currencies. Those involved in creating, distributing, exchanging, and transmitting digital currencies were deemed money transmitters and thus subject to FinCEN registration and regulatory oversight.
“Depending on who you speak to, the issuance of our guidance was either the best thing that ever happened to bitcoin or the worst thing.”
-FinCEN Director, Jennifer Shasky Calvery (The Rise and Rise of Bitcoin)
