Earlier this month, the leaders of the U.S. Commodity Futures
Trading Commission, the Financial Crimes Enforcement Network, and
the U.S. Securities and Exchange Commission released a joint statement reminding individuals engaged
in transactions involving digital assets of their obligations under
the Bank Secrecy Act (BSA) to guard against money laundering and
counter the financing of terrorism.
Anti-Money Laundering/Countering the Financing of Terrorism
(AML/CFT) regulations apply to all entities that the BSA defines as
"financial institutions," including futures commission
merchants and introducing brokers obligated to register with the
CFTC, money services businesses as defined by FinCEN, and
broker-dealers and mutual funds obligated to register with the SEC.
To comply with AML/CFT regulations, financial institutions are
required to, among other things, implement anti-money laundering
programs and comply with recording keeping and reporting
requirements, including
