Whether bitcoin is up or down when you're reading this, the cryptocurrency industry is still growing rapidly (and fast approaching an estimated $1 trillion evaluation this year). But as startups in the cryptocurrency space continue to bloom, attention from regulators is on the rise, and...
At BitAML, we talk with tons of entrepreneurs thinking about or even taking the first steps to start a new venture in cryptocurrency. Most are just like you. They are not sure what the risks and regulations are of cryptocurrency compliance and want to avoid fatal...
As the cryptocurrency landscape evolves, the need to track and monitor transactions becomes increasingly important. Cryptocurrency companies are expected to flag, track, and monitor transactions for suspicious or unusual activity. The Financial Crimes Enforcement Network (FinCEN) requires companies involved with cryptocurrencies to register as a...
There are a myriad of cryptocurrency scams out there. If you’re new to trading, it can be difficult to spot a scam without diving in too deep. Since the explosion of cryptocurrencies, coverage of the crypto space has flooded the internet. This makes it difficult...
If you’re a startup operating in the cryptocurrency space, it’s important to stay vigilant on regulatory compliance issues. And that isn’t to scaremonger – that’s exactly what BitAML has been saying for some time, as well as Coinbase’s then-legal counsel, Sarah Hody. Sarah told entrepreneurs...
Are you setting out to start your own business in the cryptocurrency space? If so, it is important to know and avoid these 7 costly mistakes when entering the industry. Compliance is a big part of running any cryptocurrency business, and many in the industry have...
In the face of regulatory task forces, congressional hearings, subpoenas, and often conflicting views among regulators, its difficult to feel as an industry that crypto has a voice. That needs to change. Here's our case for a self-regulatory cryptocurrency body in the U.S Who knows the...
As new consumer reports continue to shed light on the mounting customer complaints levied against U.S. cryptocurrency companies, crypto regulation and consumer protection are increasingly becoming topics of interest for exchanges, traders, and crypto kiosk operators. Just this year, Coinbase received over 300 complaints to the U.S. Consumer...
In late October of this year, a 52-year-old Michigan man was named in a federal indictment, accused of exchanging bitcoins improperly through LocalBitcoins (LBC). The trader, named Bradley Anthony Stetkiw (under the screen name "SaltandPepper"), was charged with operating an unlicensed money transmitting business. The case is hardly the...
It's a given that with the advent of new technologies, there comes new regulatory challenges and other teething issues as society evolves and adapts. Cryptocurrency is no exception. What makes cryptocurrency a particularly controversial issue to regulators is the simple fact that there's no central authority...
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