A significant part of the U.S. Treasury Department’s new semiannual agenda relates to its Financial Crimes Enforcement Network (FinCEN). FinCEN intends to clarify some Bank Security Act rules, including requiring banks and money service businesses to submit reports, keep records and comply with “know your customer rules” for transactions involving virtual currency. It also plans to finalize regulations amending the definition of “broker or dealer in securities” to include “funding portals.” And FinCEN will change the definition of a financial institution under anti-money laundering regs to include those engaged in “the trade of antiquities.” For more agenda items: https://bit.ly/3m8snj9
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