Quotes About FinCEN

FinCEN directs financial institutions to file suspicious activity reports (SARs) to inform law enforcement of certain types of cyber-enabled crime. As the agency charged with protecting the United States from financial crime, FinCEN's guidance does not deem financial institutions who process such transactions to be involved in a criminal activity.

In March 2013, FinCEN issued guidance for virtual currency businesses - giving the industry some degree of clarity about how to be compliant on the federal level.