Cryptocurrency businesses (specifically money services businesses (MSBs) money transmitters), whether consisting of large, international crypto exchanges or a single bitcoin ATM, must monitor transactions as part of a robust AML compliance program. Financial criminals are increasingly attracted to crypto to execute their money laundering schemes. Whether a...

On-demand workplace platform also streamlines numerous day-to-day institutional compliance tasks including reporting, record-keeping, and transaction monitoring. Financial institutions (FIs) in the cryptocurrency industry face significant challenges regularly updating customary money transmitter license (MTL) requirements, as well as a variety of other daily compliance activities. To help...

It's becoming increasingly more common for financial institutions, including businesses in the crypto space, to receive grand jury subpoenas. Thus, it’s very possible that your cryptocurrency business could be the recipient of one in the not so distant future. The important question is, how should...

Every year, federal agencies (primarily the FBI) issue thousands of National Security Letters (NSLs) to gather information they believe will help national security-related investigations and protect against terrorism and “clandestine intelligence activities.” While cryptocurrency businesses don’t receive NSLs often, the number of NSLs issued has been...

Is cryptocurrency money? Maybe you immediately answered "yes," or tried to outsmart the question with an answer like, "it's the future of money." The real answer is, "we don't know, and furthermore, we don't know exactly what it is or when that will change." At least, that's...

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