U.S. Government Issues Guidance Note On Virtual Currency

By  |  March 19, 2013
 | 

The Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a guidance note confirming that users of Bitcoins, Amazon Coins and other virtual currencies do not fall under registration, reporting and recordkeeping regulations, according to Finextra.

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    However, exchanges and administrators are considered money service businesses and therefor are subject to regulation. MSB regulation falls under the Bank Secrecy Act.

    Read the full story here.


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