The US Attorney’s Office in the Northern District of California recently settled an enforcement action against Ripple Labs Inc., a Delaware corporation providing virtual currency exchange services. According to the settlement agreement, Ripple Labs was not registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB) pursuant to the Bank Secrecy Act of 1970 while engaged in currency trading, and lacked required anti-money laundering controls.
Continue Reading Department of Justice Settles Virtual Currency Enforcement Action
Bitcoin
UK Treasury Calls for Information on Digital Currencies
By Carolyn H. Jackson on
Posted in Digital Assets and Virtual Currencies
On November 3, the UK Treasury issued a call for information on digital currencies, including Bitcoin. Views are being solicited from the public, the financial services industry, regulators, and law enforcement agencies. Commenters are asked to provide their views on how digital currencies can improve customer payments as well as encourage financial innovation. Commenters are …
First Bitcoin Swap Proposed
By Claudia Callaway on
Posted in Digital Assets and Virtual Currencies
According to Reuters reports on September 12, TeraExchange, LLC, received approval from the Commodity Futures Trading Commission to begin listing an over-the-counter swap that is based on the price of a bitcoin. The CFTC approval marks the first time a US regulatory agency approved a bitcoin financial product. In March, TeraExchange announced the finalization and …