FinCEN Released A New Regulation For Bitcoin Companies

The Financial Crimes Enforcement Network (FinCEN) released a new regulation for the United States Bitcoin companies.

In an email to respond an anonymous company,FinCEN identify that the company is running a service of money transmitter,which have to obtain permission from all 50 states.

The email can be interpreted as that the money transmitter is widely suitable for the two kinds of start-ups:
1 store physical assets
2 issue digital assets for trading

FinCEN consider that the company not only has the behavior of commodity economy or trader but also as an administrator of a virtual currency,so the its service belongs to money transmitter.

It is worth nothing that FinCEN also provide a guide of how to avoid this kind of business model from being defined as money transmitter.

FinCEN wrote in the email:The only excepting is that the company provides financial service and buyers pay to sellers directly,then FinCEN will not consider it a money transmitter.

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