FinCen’s Proposed Virtual Currency Requirements: Why the Criticism, and What’s Next? | Legaltech News – Law.com


Crypto-illustration Cryptocurrency (Photo: Photo illustration Jason Doiy/ALM)

According to the recent notice of proposed rulemaking from the Financial Crimes Enforcement Network of the U.S. Treasury (FinCen), certain transactions involving digital assets and virtual currency will be subject to a more burdensome regime than traditional money transfers, a move that has drawn much criticism from crypto insiders.