Key Takeaways
- FBI issued an alert on the use of unregistered, non-KYC Bitcoin services.
- Legal compliance for money transmitters includes AML (anti-money laundering) regulations.
- DOJ recently seized assets of Samourai Wallet for alleged money laundering.
The FBI has released a public service announcement, Alert Number I-042524-PSA.
It emphasizes the risks associated with using non-KYC and unregistered cryptocurrency money transmitting services.
Legal requirements and risks
Cryptocurrency money transmitters in the U.S. must register as Money Services Businesses and adhere to anti-money laundering standards.
The FBI warns that non-compliance could lead to financial disruptions, especially if involved in illegal transactions.
Recent enforcement actions
Recently, the DOJ arrested founders of Samourai Wallet, accusing them of laundering over $100 million.
This action included seizing web servers and issuing a warrant for the app on Google Play.
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