Posts Categorized: Currency Trading

FinCEN Imposes Fine for Failure to Register as Money Services Business Under Bank Secrecy Act

On April 18, 2019, the Financial Crimes Enforcement Network (“FinCEN”) imposed a $35,350 civil money penalty on Eric Powers for failure to register as a Money Services Business under the Bank Secrecy Act.  Mr. Powers was a peer-to-peer exchanger of bitcoin, a digital currency, for nearly two years.  FinCEN has taken the position that such… Read more »