Below is a glimpse into what FinCEN is working on. Keep in mind, the dates provided are only projected and may or may not be the actual date a proposed or final rule is released or published.
Special Measure Regarding Convertible Virtual Currency Mixing (December 2024): This Rule would implement recordkeeping and reporting requirements on transactions involving convertible virtual currency mixing.
Whistleblower Incentives and Protection (September 2024): This proposal would create a “whistleblower award program”.
CDD Revisions (October 2024): This proposal would revise current Customer Due Diligence requirements, taking into account the Corporate Transparency Act’s beneficial owner reporting and access requirements.
Cooperative Information Sharing/Protection of Shared Information (May 2025): This proposal would appear to strengthen the safe harbor available for certain information sharing and demonstrates the value FinCEN finds in the sharing of information among financial institutions, regulatory agencies, and law enforcement, specifically information related to possible terrorism and money laundering. Protections would also be extended to information shared at FinCEN Exchanges.
Stay tuned!
Published
2024/08/06