FinCEN issues guidance on privacy coins, LocalBitcoins sellers, prediction markets, and other crypto businesses120

US regulatory agency FinCEN released new guidelines on whether certain crypto businesses are regulated as money services businesses. Those who qualify fall under the scope of the agency and must comply with (sometimes costly) regulations that clash with user privacy.

FinCEN (Financial Crimes Enforcement Network), a bureau of the US Department of Treasury which combats money laundering and terrorism financing, released new guidance on types of cryptocurrency-related businesses which are subject to regulations under the Bank Secrecy Act (BSA).

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