FBI warns Americans against using unregistered crypto money transmitters | The Block
Powered by @unfolded- The FBI has warned Americans against using unregistered crypto money transmitting services that are not registered as Money Services Businesses (MSBs) under federal law and do not follow anti-money laundering rules.
- The FBI advises people to avoid cryptocurrency money transmitting services that do not collect know your customer (KYC) information from customers when required, and to use an official tool from FinCEN to check if a company is registered as an MSB.
- The FBI has conducted law enforcement operations against cryptocurrency services that were not licensed in accordance with federal law, and warns that using unlicensed cryptocurrency money transmitting services may lead to financial disruptions during law enforcement actions.
- Users are cautioned against using crypto services that do not ask for KYC information and are reminded that cryptocurrency money transmitting services that break the law or knowingly facilitate illegal transactions will be investigated by law enforcement.