New Guidance Unveiled by FinCEN for Cryptocurrency
On May 9, 2019, the U.S. Financial Crimes Enforcement Network (FinCEN) published new guidance entitled, Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currencies. The Guidance, presented as a consolidation of FinCEN regulations and administrative rulings, outlines how the Bank Secrecy Act (31 U.S.C. § 5311, et