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FinCEN to Bitcoin Administrators & Exchangers – You are Money Transmitters
According to the statutes and regulations released by FinCEN on March 18, 2013 regarding virtual currencies, administrators and exchangers of Bitcoin will be treated as money transmitters. An...
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Surety Bond FAQ’s for Bitcoin Exchangers and Administrators
Since the Bitcoin 2013 conference, I have been bombarded with questions regarding surety bonds. In response to the many inquiries, I decided it would be best to provide answers to the most common...
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Not a Big Deal to Follow the Money Transmission Rules
I would like to make some observations after reading the article ‘Virtual Currencies Draw State Scrutiny’ by Robin Sidel and Andrew Johnson in the Wall Street Journal. The newly virtual currency...
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Are Money Transmitters Risking Licenses By Partnering With Virtual Currency...
Since March of this year, when FinCEN released new guidelines requiring virtual currency operators to be licensed as money transmitters, the subject of compliance has been the main topic of...
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NY Virtual Currency Announcement Misleads
The excitement and enthusiasm of Digital Currency entrepreneurs was palatable after the recent announcement by Ben Lawsky, New York’s first Superintendent of Financial Services, that the state would...
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Banking Issues Continue While Surety Bond Underwriters Embrace MSBs
Why are MSBs are locked out of the traditional banking sector while at the same time surety bonds are becoming cheaper and underwriting requirements continue to loosen? I know I’m oversimplifying this...
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