FinCEN CFTC, SEC Issue Statement on Crypto

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In an usually explicit act of cross-agency collaboration, the heads of the Commodity Futures Trading Commission (CFTC), Financial Crimes Enforcement Network (FinCEN) and Securities Exchange Commission (SEC) signed a statement reminding actors in the crypto space that they must comply with various banking and financial services laws in the U.S., regardless of what they call their cryptocurrencies or tokens.  In the statement, the agencies referred to the Bank Secrecy Act (BSA), which outlines how different financial services businesses should register with regulators.  More information is available here.

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