News Snapshot:
The guilty plea of the founders of the crypto trading platform with main offices in Hong Kong and Singapore avoided a trial; bitcoin dropped below $37 Bank Secrecy Act (BSA).So if an institution doesn’t actually accept fiat currency or provide an off-ramp for it, can it be charged under the Bank Secrecy Act?Feingold, who had formerly served as in-house counsel for Royal Bank of Scotland, Deutsche Bank and JPMorgan in Hong Kong, highlighted that this would have been a precedent-setting case for the BSA as it would have been one of the first uses of the Secrecy Act against a...
