• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan

FinCEN: Bitcoin Investment Not Money Services Business

newsbtc by newsbtc
9 years ago
in Cryptocurrency news
Reading Time: 1 min read
Advertisement

FinCEN LogoIt would appear as if the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has ruled that the bitcoin investment industry doesn’t quite fit their description of a money services business, thus eliminating the need to register with FinCEN and go through other hurdles.

The information comes from bitcoin enthusiast Andre De Castro, who wrote to FinCEN last following a March 2013 guidance that companies that transmit bitcoin and other digital currencies must register. De Castro asked for a ruling on his investment company, RightClick, LLC.

The response De Castro received:

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

To the extent that the company purchases and sells convertible virtual currency paying and receiving the equivalent value in currency of legal tender to and from counterparties, all exclusively as investments for its own account, it is not engaged in the business of exchanging convertible virtual currency for currency of legal tender for other persons

“I’m happy to see [FinCEN] clarifying guidance for companies that have very targeted approaches to dealing with purchases and sales of virtual currency for investment purposes,” said De Castro to Payments Source.

De Castro warns anyone entering the space, however, to remain cautious. (via PaymentsSource)

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Tags: fincenNewstreasury
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

GameFi

Top 5 GameFi Cryptos To Watch This February

47 mins ago
Santiment Explains Why Bitcoin Saw A Pullback During The Past Day

Santiment Explains Why Bitcoin Saw A Pullback During The Past Day

1 hour ago
As Bitcoin Prepares for Bull Run, Could Projects Like Meta Masters Guild Shape the Crypto Market?

As Bitcoin Prepares for Bull Run, Could Projects Like Meta Masters Guild Shape the Crypto Market?

2 hours ago
Solana SOL

Solana (SOL) Is The Biggest Opportunity This Cycle, Venture Capitalist Claims

4 hours ago
Aptos Records 415.80% Jump in 30 Days: OP, AUDIO, MEMAG & FGHT to Follow Suit

Aptos Records 415.80% Jump in 30 Days: OP, AUDIO, MEMAG & FGHT to Follow Suit

9 hours ago
bitcoin price bull

Bitcoin Spiked to $23,960, But Traders Are Not Very Greedy

14 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Best Penny Cryptos To Buy Now To See 10x Gains in 2023

January 31, 2023

Get In Early – These 6 Crypto ICOs Are Ready to Boom in 2023

January 31, 2023

CoinEx Makes Crypto Trading Easier via Fiat-to-Crypto Services

January 31, 2023

QI Blockchain Ecosystem: The Fastest Growing Ecosystem in the World

January 31, 2023

Gold & Silver Standard And MRHB DeFi Announce Partnership To Offer Fully-Compliant Platform For Islamic Investors

January 31, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.