FBI warns Americans against using unregistered crypto money transmitting services | Headlines | News | CoinMarketCap
04/26/2024 02:08
The U.S. Federal Bureau of Investigation has warned Americans against using unregistered crypto money transmitting services. Americans should avoid …
The U.S. Federal Bureau of Investigation has warned Americans against using unregistered crypto money transmitting services.
Americans should avoid crypto services from firms that are not registered as Money Services Businesses (MSBs) under federal law and do not follow anti-money laundering rules, according to a Thursday statement from the FBI's Internet Crime Complaint Center (IC3).
"A few simple steps can prevent unintentional use of non-compliant services," the FBI wrote in the release. "For example, avoid cryptocurrency money transmitting services that do not collect know your customer (KYC) information from customers when required."
KYC information commonly includes name, date of birth and address among other details.
The FBI also suggested users look up whether a business is …