EMI Agents & Restriction on Correspondent Agreements
This is one restriction you need to know about if you plan on becoming an EMD (Electronic Money Distributor) i.e. an Agent of an EMI.
money transmitter licenses
What recourse do Bitcoin companies operating in the US have in light of the recent ruling by FinCEN?
On October 27, 2014, the Financial Crimes Enforcement Network (FinCEN) released new guidance for custodial bitcoin exchanges and payment processors, ruling that such companies may be considered money services businesses under US law. The past couple of days have been very hectic. Besides fielding calls from lots of people, everyone is asking the same …
FinCEN’s new ruling puts Coinbase, Bitpay, Circle and others in deep trouble.
The US Financial Crimes Enforcement Network (FINCEN) released its opinion on: Request for Administrative Ruling on the Application of FinCEN’s Regulations to a Virtual Currency Payment System yesterday (27th October 2014). The ruling which is an update to an earlier ruling of October 2013, in which only Bitcoin Exchanges were subject to the Money …
FinCEN’s new ruling puts Coinbase, Bitpay, Circle and others in deep trouble. Read More »