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FinCEN Takes First Enforcement Action Against P2P Cryptocurrency Exchanger

Published 04/19/2019, 05:29 AM
Updated 04/19/2019, 05:42 AM
FinCEN Takes First Enforcement Action Against P2P Cryptocurrency Exchanger

The United States Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty for a California resident accused of wilfully violating money transmission laws in his work as a peer-to-peer exchanger of virtual currencies. The news was announced in an official FinCEN news release on April 18.

FinCEN — the U.S. Treasury Department’s financial crimes unit — says the move represents its first enforcement action against a peer-to-peer cryptocurrency exchanger.

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