“FinCEN Goes Global in Bitcoin Enforcement,” Law360

July 27, 2017

In an article published by Law360 on July 27, 2017, Harry D. Dixon III provides insight on a recent Financial Crimes Enforcement Network (FinCEN) case. The acting director of FinCEN assessed a $110,003,314 civil monetary penalty against BTC-e, a bitcoin processor, and a civil monetary penalty of $12 million against BTC-e’s owner and operator. Mr. Dixon provides takeaways from the case including: 1) This is the second time that FinCEN has taken a supervisory enforcement action against a virtual currency exchanger, 2) this is the first time that FinCEN conducted an action against a foreign-based MSB that is doing business in the United States and 3) white collar criminal enforcement continues to be in full swing in the federal government. For the full article please visit the Law360 website.

‹ Headlines