Top Treasury Official Warns Bitcoin Exchanges To Register

Law360, New York (March 18, 2014, 4:37 PM EDT) -- The U.S. Department of the Treasury's top counterterrorism official on Tuesday warned bitcoin and other virtual currency exchanges to register with federal regulators or face potential criminal sanctions.

David S. Cohen, the under secretary of terrorism and financial intelligence, said the Treasury Department and other law enforcement agencies will go after exchanges that do not register as federal money transmitters with state regulators as called for under guidance by the Financial Crimes Enforcement Network.

“Those that do not comply with these rules should understand that their...
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