FinCEN Special Measures are extraordinary regulatory actions taken by the US Treasury’s Financial Crimes Enforcement Network. These measures, authorized under Section 311 of the USA PATRIOT Act, permit FinCEN to impose various restrictions on financial institutions to counter money laundering and terrorist financing risks. They can range from enhanced recordkeeping and reporting requirements to outright prohibitions on certain transactions or accounts. These actions are typically directed at foreign jurisdictions, institutions, or transaction types deemed to pose significant illicit finance threats.
Context
FinCEN Special Measures have been applied to virtual currency mixers and other digital asset services identified as facilitating illicit finance, drawing considerable attention in crypto news. The potential for these measures to impact digital asset flows and operational models remains a significant regulatory concern for firms operating in the US and globally.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
