US Financial Crime Regulator Now Receiving 1,500 SAR Reports a Month

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US Financial Crime Regulator Now Receiving 1,500 SAR Reports a Month

Postby kreslik.news » Sat Aug 11, 2018 10:35 am


Kenneth A. Blanco, Director of the US Financial Crimes Enforcement Network, gave a speech which spoke positively about his agency’s efforts to regulate cryptocurrency businesses and the rise in the number of suspicious incidents being reported to it.

The speech was given at at a technology conference held at the Chicago-Kent College of Law.

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‘Value that substitutes for currency’

Blanco said that the organisation’s attention on cryptocurrency businesses in terms of controlling criminal activity “goes back years”. It first issued rules ensuring that pre-existing regulations apply to companies that accept and transmit “value that substitutes for currency,” a ... (read more)

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