FinCEN Releases Two Rulings Classifying a Bitcoin Payment System and Virtual Currency Trading Platform As MSBs

FinCEN Releases Two Rulings Classifying a Bitcoin Payment System and Virtual Currency Trading Platform As MSBs

In its opening salvo bringing bitcoin under the watchful eye of the federal government, the Financial Crimes Enforcement Network (FinCEN) issued a Guidance (FIN-2013-G001) in March 2013 clarifying that anti-money laundering regulations concerning record keeping and recording apply to digital currency exchanges.