FinCEN Crypto Reporting Requirements for MSBs

money service business reporting requirements

Crypto Money Service Businesses The Financial Crimes Enforcement Network (FinCEN) in the United States imposes specific reporting requirements on money service businesses (MSBs) that engage in transactions involving cryptocurrency. These requirements were developed to prevent money laundering, terrorist financing, and other illicit activities. There are two primary reporting functions. Currency Transaction Reports A Currency Transaction … Read more