Topic: 2013-07-19 Bitcoin Foundation comments on FinCEN Special Measures (Read 916 times)
Excellent work by the BF and its lawyers!
The Bitcoin Foundation appreciates the opportunity to comment on the proposed rule publishedin FinCEN's Notice of Proposed Rulemaking on the Imposition of Special Measure AgainstLiberty Reserve S.A. as a Financial Institution of Primary Money Laundering Concern("Proposed Rule").
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In the Proposed Rule, FinCEN proposes to require financial institutions toimpose “special measures” against Liberty Reserve, S.A. (“Liberty Reserve”) under Section 311of the Bank Secrecy Act. As discussed below, the Bitcoin Foundation does not take issue withthe imposition of special measures against Liberty Reserve. Rather, the Bitcoin Foundation isfiling these comments to urge FinCEN to clarify statements made in the Proposed Rule and theunderlying Notice of Findings that could be misinterpreted to suggest that virtual currencytransactions in general are inherently suspect
http://www.scribd.com/doc/154799860/Bitcoin-Foundation-Comments-on-Liberty-Reserve-Special-Measures-NPRM
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In the Proposed Rule, FinCEN proposes to require financial institutions toimpose “special measures” against Liberty Reserve, S.A. (“Liberty Reserve”) under Section 311of the Bank Secrecy Act. As discussed below, the Bitcoin Foundation does not take issue withthe imposition of special measures against Liberty Reserve. Rather, the Bitcoin Foundation isfiling these comments to urge FinCEN to clarify statements made in the Proposed Rule and theunderlying Notice of Findings that could be misinterpreted to suggest that virtual currencytransactions in general are inherently suspect
http://www.scribd.com/doc/154799860/Bitcoin-Foundation-Comments-on-Liberty-Reserve-Special-Measures-NPRM
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