Application of fincen’s regulations to persons administering, exchanging, or using virtual currencies

Manuals and Handbooks

Author: US Financial Crimes Enforcement Network

The guidance was issued with the aim to clarify the applicability of the US Bank Secrecy Act to persons creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies. The document explains the notion of virtual currency and provides definitions for the user, exchanger, and administrator of virtual currencies.