The regulation of Bitcoin and other cryptocurrencies in the United States has been a convoluted and ever-changing issue. With various federal and state agencies taking differing approaches to regulate the industry, it has resulted in a jumble of rules and requirements. At the federal level, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has been the primary regulator of cryptocurrencies. Back in 2013, FinCEN issued guidance stating that vir...

The regulation of Bitcoin and other cryptocurrencies in the United States has been a convoluted and ever-changing issue. With various federal and state agencies taking differing approaches to regulate the industry, it has resulted in a jumble of rules and requirements. At the federal level, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has been the primary regulator of cryptocurrencies. Back in 2013, FinCEN issued guidance stating that vir...

The popular cryptocurrency exchange Coinbase has found itself at the center of a legal battle after being accused of violating the law by conducting inadequate Know Your Customer (KYC) procedures. The company has been hit with a lawsuit filed by the New York State Attorney General's office, which alleges that Coinbase recklessly ignored its legal obligations to properly verify the identity of its users. The lawsuit claims that Coinbase engaged in a pattern of failing to properly verify t...

The popular cryptocurrency exchange Coinbase has found itself at the center of a legal battle after being accused of violating the law by conducting inadequate Know Your Customer (KYC) procedures. The company has been hit with a lawsuit filed by the New York State Attorney General's office, which alleges that Coinbase recklessly ignored its legal obligations to properly verify the identity of its users. The lawsuit claims that Coinbase engaged in a pattern of failing to properly verify t...