Posts Categorized: Currency Trading

Cryptocurrency Rules Significantly Broadened in Japan

On April 3, 2020, the Japanese Financial Services Agency issued amended regulations to carry out changes made last year to the Japanese Payment Services Act and Financial Instruments Exchange Act. The new regulations go into effect on May 1, 2020, and reflect major changes in the regulations. While the changes are extensive and beyond the… Read more »

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 »