Is Cryptocurrency Legal in Latin America? Cryptocurrencies: Laws vary by country Cryptocurrency exchanges: Regulation, laws vary by country Latin America cryptocurrency regulations run the legislative spectrum. Those countries with harsher regulations include Bolivia which has comprehensively banned cryptocurrencies and exchanges, […]
Is Cryptocurrency Legal in Canada? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, required to register with FinTRAC after June 1, 2020 In Canada cryptocurrency is not legal tender but can be used to buy goods and services online or in […]
Is Cryptocurrency Legal in the US? Cryptocurrencies: Not considered legal tender Cryptocurrency exchanges: Legal, regulation varies by state While it is difficult to find a consistent legal approach at the state level, the US continues to progress in developing federal […]
On January 1st 2017 New York State’s Department of Financial Services (DFS) Part 504 went live. This rule provides a clarification on how OFAC and other lists are screened and how transactions are monitored. The impacts of this rule may […]
Cuba Sanctions from the United States The US government first imposed economic sanctions against Cuba on February 7th 1962 in response to the Cuban government’s political alignment with the Soviet Union, and its ongoing efforts to undermine democratic processes. Implemented […]
What does the Mexican Unidad de Inteligencia Financiera do? Created in 2004, the Mexican Unidad de Inteligencia Financiera (UIF) is a government agency focused on detecting and preventing financial crimes such as money laundering and terrorist financing. The UIF is […]
The Conselho de Controle de Atividades Financeiras (COAF) is Brazil’s national Financial Intelligence Unit (FIU) and is the supervisory body responsible for fighting financial crime. Founded in 1998 and headquartered in the capital city, Brasilia, COAF is part of Brazil’s […]
The effects of the Foreign Account Tax Compliance Act on foreign acounts The Foreign Account Tax Compliance Act (FATCA) is a federal law designed to counter tax evasion in the United States. Introduced in 2010, FATCA imposes a range of […]
In the wake of the 2008 financial crisis, the US government looked at ways to better regulate the behavior of banks, and to protect consumers. The subsequent Dodd-Frank Act became one of the most important articles of US financial legislation, introducing new […]
What is FinCEN? The Financial Crimes Enforcement Network (FinCEN) is the United States’ primary financial regulator and a bureau of the Department of the Treasury. Working with state and federal law enforcement authorities, FinCEN is responsible for supervising financial institutions […]
Money laundering and terrorist financing (ML/TF) pose a substantial threat to governments and financial institutions. Over the past few decades, increasing measures have been taken across the globe to counter them. In 2022, the EU moved forward in its bid […]
The Office of Foreign Assets Control (OFAC) is responsible for creating, implementing and enforcing the United States’ sanctions. All parties under US jurisdiction must abide by OFAC sanctions and associated regulations and avoid OFAC sanctions violations. Exemptions to sanction orders […]
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