This is not a new law implemented to regulate the cryptocurrency industry. Nor is this a new application of existing U.S. law to a cryptocurrency exchange.
Virtual Currencies Comparative Guide for the jurisdiction of United States, check out our comparative guides section to compare across multiple countries
On October 11, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced a $29 million civil.
Americans are currently seeing a period of potentially significant change as financial technology (FinTech) companies seek to harness advances in communications, data processing, and cryptography to compete with traditional providers across a host of services. FinTech is changing how financial services are provided in a host of ways that make it possible for new competitors to compete with incumbents.1 Some of the most powerful are removing geographic limitations on where a company can offer its services, and lowering barriers to entry.
US President Joseph Biden’s recent executive order outlines the administration’s first take on regulating the digital asset industry, which includes cryptocurrency and non-fungible.