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U.S. Treasury cautions Bitcoin businesses on legal duties

18
Dec
2013

By Brett Wolf ST. LOUIS (Reuters) – The U.S. Treasury Departments anti money-laundering unit is warning businesses linked to the digital currency Bitcoin that they may have to comply with federal law and regulation as money transmitters, a Treasury spokesman said. Treasurys Financial Crimes Enforcement Network (FinCEN) has sent industry outreach letters to about a dozen firms, regarding potential anti-money laundering compliance obligations related to Bitcoin businesses, FinCEN spokesman Steve Hudak told Thomson Reuters regulatory information service Compliance Complete.

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