Cryptocurrency Regulation

FinCEN: ICOs For Convertible Virtual Currencies May Require Money Transmitter Licenses

March 6, 2018

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FinCEN: ICOs For Convertible Virtual Currencies May Require Money Transmitter Licenses

fincen-icos-for-convertible-virtual-currencies-may-require-money-transmitter-licenses

On Tuesday, a letter addressed to Senator Ron Wyden from FinCEN regarding its oversight and enforcement capabilities for virtual currencies was published. Depending on the nature of an initial coin offering (ICO), a money transmitter license may be required.