All Virtual Currency articles

  • Hacker

    FinCEN report: Ransomware SARs surge past 2020 totals


    A Financial Crimes Enforcement Network report on financial trends in Bank Secrecy Act data found a greater number of SARs related to ransomware filed between January and June 2021 than during all of 2020.

  • Article

    Big 4 fill gap in GAAP on accounting for digital currency


    With no explicit guidance in GAAP on how to account for business done in digital currency, Big 4 firms are starting to arrive at conclusions of their own.

  • breakingcode-top

    Cryptocurrencies give rise to a new kind of hacking threat


    Recent price spikes of virtual currencies have inspired a new breed of hackers who don’t want your data—just your processing power.

  • Blog

    CFTC charges executives for ongoing virtual currency scam


    The CFTC announced that it is bringing commodity fraud and misappropriation charges related to the ongoing solicitation of customers for a virtual currency known as My Big Coin.

  • Blog

    CFTC launches virtual currency resource web page


    The Commodity Futures Trading Commission announced the launch of a new virtual currency resource Web page, a central repository for CFTC-produced resources about virtual currency and is designed to educate and inform the public about these commodities, including the possible risks associated with investing or speculating in virtual currencies or ...

  • Blog

    FinCEN Targets Money Laundering in Real Estate Deals


    Image: Expect a greater focus on the use of real estate holdings as a vehicle for money laundering, Jennifer Shasky Calvery, director of FinCEN, said recently. The goal: “Make it more difficult for criminals to hide their purchases of luxury real estate through the use of shell companies.” Moreover, she ...

  • Article

    CFPB Proposes New Rules for Prepaid Cards, Mobile Payments


    Banks, retailers, online services, and others that issue prepaid cards to consumers will soon have some new rules to follow, including the need to conduct “ability to repay” assessments if they offer credit options. The rules, proposed by the Consumer Financial Protection Bureau, could also bring new regulations to mobile ...

  • Article

    As Tech Firms Enter the Payments Space, Regulators Are Watching


    Last month Apple plunged into the world of payment processing with its Apple Pay service that allows its mobile devices to make payments at retailers. Rivals Google, Microsoft, and Facebook have already dabbled in the market that includes Pay Pal and several others. These disruptive technologies may prompt regulators to ...