Peter Z. Scheer — Prosecutors Use Patriot Act to Shut Down Virtual Currency Operator

Reuters:
The U.S. Treasury Department’s anti-money laundering unit, the Financial Crimes Enforcement Network (FinCEN), issued guidance in March that labeled digital currency firms as money transmitters, thereby obliging them to put in place anti-money laundering programs and register with FinCEN.

Tokyo-based Mt. Gox, a top exchange for Bitcoin, the best known virtual currency, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

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Prosecutors Use Patriot Act to Shut Down Virtual Currency Operator
Peter Z. Scheer