Wherever there is money, there will always be a crime. Having safeguards in place to prevent some of those crimes helps to protect the integrity of the currency and the country involved. For the United States, FinCEN is there to help. FinCEN stands for Financial Crimes Enforcement Network, and they are a bureau of the US Department of Treasury.
Their mission and their goal are to protect the financial system from any illicit crimes and help to fight money laundering. They also work to collect, analysis and distribute financial intelligence and the strategic use of financial establishments. They do this mainly through data and analyzing that data. They work with all the regulatory functions that are all stated under the Currency and Financial Transactions Reporting Act of 1970.
Besides that they are also responsible for letting foreign financial intelligence units in on any foul play or criminal activity that they have come across. This is so they keep all countries in the know in case other crimes take place abroad, or if other country's currencies are involved as well. They do most of this by collecting and analyzing all data that is relevant to anything dealing with currency and finances.
Paul Vernon Cryptsy started his company called Cryptsy. They deal with bitcoin and the exchanging of other types of crypto currency. Because they deal with such delicate matter, such as currency, they are now registered with FinCEN, and they are also well on their way to attaining accreditation through the Better Business Bureau.
Their mission and their goal are to protect the financial system from any illicit crimes and help to fight money laundering. They also work to collect, analysis and distribute financial intelligence and the strategic use of financial establishments. They do this mainly through data and analyzing that data. They work with all the regulatory functions that are all stated under the Currency and Financial Transactions Reporting Act of 1970.
Besides that they are also responsible for letting foreign financial intelligence units in on any foul play or criminal activity that they have come across. This is so they keep all countries in the know in case other crimes take place abroad, or if other country's currencies are involved as well. They do most of this by collecting and analyzing all data that is relevant to anything dealing with currency and finances.
Paul Vernon Cryptsy started his company called Cryptsy. They deal with bitcoin and the exchanging of other types of crypto currency. Because they deal with such delicate matter, such as currency, they are now registered with FinCEN, and they are also well on their way to attaining accreditation through the Better Business Bureau.