Regulatory Alerts2021-01-26
Added
Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets (Extension Notice)
The Financial Crimes Enforcement Network extends the comment period for its proposed rule regarding transactions involving convertible virtual currency or digital assets with legal tender status. Comments on all aspects of the notice of proposed rulemaking must be received by March 29, 2021. This extension consolidates previously separate deadlines into a single closing date for the public to respond to proposed reporting and recordkeeping requirements for banks and money services businesses.