Jenner & Block

Partner Wade Thomson Discusses Anti-Money Laundering Obligations for Cryptocurrency

Jenner & Block Partner Wade A. Thomson is quoted in an article about how three financial regulators recently issued a reminder about anti-money laundering obligations.  The article explains that the US Securities and Exchange Commission, the US Commodity Futures Trading Commission and the Financial Crimes Enforcement Network released a joint statement aimed at people who deal with digital currencies.  “Today’s joint statement may be rare in its makeup among those agencies, but there has been a drumbeat of focus on crypto and AML from federal agencies, especially FinCEN and SEC, for well over a year,” Mr. Thomson observes.  “The government is reminding all crypto entrants to the financial system that they will be expected to participate in protecting the system from money-laundering."  Titled “Look Beyond Crypto Labels, SEC, CFTC and FInCEN Warn,” the article was published in Law360.