FinCEN Proposes Lower Travel Rule Thresholds for Fiat and Virtual Currencies
By EsqSocial Corporation 05/11/20
In October of last year, we wrote about the challenges faced by virtual currency businesses in complying with the Travel Rule following new guidance from the Financial Action Task Force (FATF) and the Financial Crimes Enforcement Network (FinCEN). One year later, as the virtual currency industry continues to struggle with the technical challenges of Travel Rule compliance, FinCEN and the Board of Governors of the Federal Reserve (the Board) have proposed a new rule that threatens to increase...
By: King & Spalding