US Financial Crimes Enforcement Network (FinCEN) director Jennifer Shasky Calvery said during a speech today that her agency is in the process of investigating businesses in the digital currency ecosystem.
Calvery gave the keynote address during the first day of the 2015 West Coast Anti-Money Laundering Forum in San Francisco. FinCEN later published the text of her speech, which acknowledged that “a series of supervisory examinations of businesses in the virtual currency industry” had begun.
The announcement comes a day after FinCEN, in conjunction with the US Attorney’s Office in the Northern District of California, announced that it had reached a settlement with Ripple Labs over violations of the Bank Secrecy Act. As part of the agreement, Ripple Labs and a subsidiary agreed to pay $700,000 and facilitate more stringent oversight of the Ripple network.
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