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...
