by BTM Compliance | Jan 9, 2022 | Compliance
Navigating Bitcoin ATM Compliance Have you been thinking about the possibility of starting a Bitcoin ATM operation? Are you hesitant because you’re unsure where to start or what to do with Bitcoin ATM compliance? If this sounds familiar, rest assured that you are...
by BTM Compliance | Sep 8, 2021 | Compliance
The Internal Revenue Service (IRS) is stepping up enforcement of Money Services Businesses (MSBs) and the penalties for non-compliance are hefty. In a published IRS report, it was found that in fiscal year 2016, there were 1,716 examinations of MSB’s with a total...
by BTM Compliance | Dec 28, 2020 | Compliance
As you may have heard, FinCEN issued a notice of proposed rule making — they gave a whole 15 days for comments — and propose to make Bitcoin and other digital currencies fall under the definition of monetary instrument. This means extra reporting for Banks and Money...
by BTM Compliance | Nov 2, 2019 | Compliance
Sasha Hodder is a legal consultant of BTM Compliance and she recently wrote Op-Ed for www.bitcoinmagazine.com We are bringing you the article: On May 9, 2019, the Financial Crimes Enforcement Network (FinCEN), issued new “interpretive guidance” about how its...
by BTM Compliance | Dec 16, 2018 | Uncategorized
Automated Teller Machines have been around for over half a century. They allow users to complete transactions automatically without the need of a bank clerk. ATMs provide easy access to cash, account reports, some allow users to transfer funds between accounts, make...
