How do I start a cryptocurrency or bitcoin business? Crafting a business plan is usually step #1, but in a fraught and ambiguous regulatory landscape, entrepreneurs in the space must focus on AML compliance first. There are no shortage of blog posts or "ultimate guides" out...
Yes, expanding the geographic scope of your cryptocurrency money service business brings new risks. Here's what you need to know. Let's say things are going well with your cryptocurrency business. Maybe you're a bitcoin ATM owner and you've come out of your startup shell, or you're...
Legislation being considered in California and New Jersey, as well as other regulatory signals around the U.S., are a reminder that businesses in the bitcoin/cryptocurrency space must prioritize consumer protection. We offer some practical tips you can implement right away. It's easy, in a new industry, to...
AML compliance is complex, and it can be difficult for cryptocurrency businesses and startups to dot every last I. Here are some of the most commonly-overlooked bitcoin compliance essentials we run into. Putting together an AML compliance program should be at very the top of the...
When you decide to start a cryptocurrency business, there are very specific AML compliance tasks that you need to take care of before you open your doors. You’ll need to perform a risk assessment and implement an AML compliance program that satisfies the pillars of the Bank...
You're not done once you get your MTL license in-hand. In fact, the hard part has just begun. More and more states are requiring cryptocurrency businesses to obtain money transmitter licenses, and this is a trend that's only going in one direction — toward more states...
Can cryptocurrency businesses be subjected to IRS Title 31 exams? In short, yes. The IRS uses Title 31 to prevent money laundering, meaning more and more cryptocurrency businesses could face the examination. When you were in school, you probably hated tests — especially those pop quizzes...
Keeping up with changing regulations as a crypto business owner is a challenge, to say the least. An industry launched as an economical alternative to big finance finds itself increasingly subject to the same regulations in the U.S. that govern banks and other financial institutions. While...
A proposed expansion of California's Department of Business Oversight would mean big changes to how cryptocurrency businesses are regulated in the state. California's budget might not make the morning coffee shop talk for most us, but cryptocurrency money services businesses/money transmitters operating in the state might...
The regulatory environment for cryptocurrency businesses is very much in flux. There are a lot of changes coming, and many of them could have a big impact on the cryptocurrency market. Of course, it’s impossible to predict the future, but there are three major questions we...
