FinCEN Oversight Hearing; HFSC Hearing on Crypto and Illicit Finance
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FinCEN Oversight Hearing What Happened? Last Wednesday, the House Financial Services Committee (HFSC) convened an oversight hearing focused on the Financial Crimes Enforcement Network (FinCEN), the federal law enforcement agency responsible for enforcing the United States’ anti-money laundering (AML) laws, and the Treasury Department’s Office of Terrorism and Financial Intelligence (TFI), which oversees the U.S. sanction program and AML/CFT laws. Andrea Gacki, FinCEN’s Director, and Brian Nelson, the Treasury Department’s Under Secretary for TFI, testified at the hearing. Illicit activity using digital assets was a focus of the hearing, as were broader topics such as the compliance costs for small businesses and individual privacy concerns.
FinCEN Oversight Hearing; HFSC Hearing on Crypto and Illicit Finance
FinCEN Oversight Hearing; HFSC Hearing on…
FinCEN Oversight Hearing; HFSC Hearing on Crypto and Illicit Finance
FinCEN Oversight Hearing What Happened? Last Wednesday, the House Financial Services Committee (HFSC) convened an oversight hearing focused on the Financial Crimes Enforcement Network (FinCEN), the federal law enforcement agency responsible for enforcing the United States’ anti-money laundering (AML) laws, and the Treasury Department’s Office of Terrorism and Financial Intelligence (TFI), which oversees the U.S. sanction program and AML/CFT laws. Andrea Gacki, FinCEN’s Director, and Brian Nelson, the Treasury Department’s Under Secretary for TFI, testified at the hearing. Illicit activity using digital assets was a focus of the hearing, as were broader topics such as the compliance costs for small businesses and individual privacy concerns.