FinCEN Issues guidance to synthesize regulatory framework for virtual currency
Journal of Investment Compliance
ISSN: 1528-5812
Article publication date: 27 September 2019
Issue publication date: 16 October 2019
Abstract
Purpose
To summarize FinCEN’s new interpretive guidance on how its regulations apply to business models involving convertible virtual currencies (“CVCs”).
Design/methodology/approach
Highlights the most significant aspects of FinCEN’s CVC guidance, including several of the CVC business models discussed in the guidance.
Findings
FinCEN’s latest guidance does not create any new legal requirements but clarifies how existing regulations apply to business models involving CVCs.
Practical implications
Practitioners advising on CVC issues should be familiar with FinCEN’s latest guidance and how FinCEN regulations may impact their clients.
Originality/value
Highlights the most important takeaways from FinCEN’s guidance based on our firm’s experience in the CVC space. Lawyers representing clients on CVC issues will find this article valuable.
Keywords
Citation
Nonaka, M., Konko, J. and Gaffney, C. (2019), "FinCEN Issues guidance to synthesize regulatory framework for virtual currency", Journal of Investment Compliance, Vol. 20 No. 3, pp. 54-56. https://doi.org/10.1108/JOIC-07-2019-0041
Publisher
:Emerald Publishing Limited
Copyright © 2019, Covington & Burlington LLP