ChainCatcher news, according to Cointelegraph, the U.S. Department of the Treasury (DOT) released a semi-annual regulatory agenda on August 16, revealing that the federal government is set to create a fair regulatory environment for both cryptocurrencies and traditional fiat currencies. The Federal Reserve Board (FRS) and the Financial Crimes Enforcement Network (FinCEN) plan to amend the definition of "currency" used in the Bank Secrecy Act (BSA) to strengthen reporting requirements for financial institutions regarding domestic and cross-border cryptocurrency transactions.According to the agenda: "These agencies hope that the revised proposal will ensure that the rules apply to domestic and cross-border transactions involving convertible virtual currencies, which are a medium of exchange (such as cryptocurrencies) that have value equivalent to or can substitute for currency but lack legal tender status."The proposal will also extend reporting requirements to digital assets with legal tender status, including central bank digital currencies (CBDCs). The final notice for the proposed rulemaking is currently scheduled to be published in September 2025, pending approval.

ChainCatcher news, according to an official statement from the U.S. Department of Justice, cryptocurrency exchange and derivatives trading platform BitMEX admitted on Wednesday to violating the Bank Secrecy Act, stating that BitMEX willfully failed to establish, implement, and maintain adequate anti-money laundering programs. The law carries a maximum penalty of five years in prison and fines, and the case has been assigned to U.S. District Judge John G. Koeltl.U.S. Attorney Damian Williams stated, "As acknowledged by BitMEX's founder and long-time employee in federal court in 2022, the company operated in the U.S. without any meaningful anti-money laundering program as required by federal law. Therefore, BitMEX became a tool for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system."

ChainCatcher news, according to Cointelegraph, Adam Todd, the founder and former CEO of Digitex Futures Exchange, pleaded guilty in federal court for the company's failure to establish an anti-money laundering program.According to an announcement from the Southern District of Florida U.S. Attorney's Office on May 7, Adam Todd admitted to "willfully causing" Digitex to violate the Bank Secrecy Act. According to the indictment, Adam Todd operated an unregistered futures platform for U.S. customers from 2018 to 2022, failing to implement and maintain anti-money laundering and know your customer (KYC) programs.According to the Southern District of Florida U.S. Attorney's Office, Adam Todd faces up to five years in prison and a $250,000 fine.

ChainCatcher news, reported by journalist @nikhileshde on the scene, the U.S. Department of Justice attorney stated: "If Zhao Changpeng intentionally or willfully planned to violate U.S. law by establishing the world's largest cryptocurrency exchange and profiting in the process, and he does not face imprisonment, then no one will face imprisonment, and the Bank Secrecy Act (BSA) would be a mere formality in terms of its intent and purpose."

ChainCatcher news, the U.S. Attorney's Office for the Southern District of New York has announced that the cryptocurrency exchange platform KuCoin and its two founders have been charged with violations of the Bank Secrecy Act and unlicensed money transmission. KuCoin and its two founders, Chun Gan and Ke Tang, are accused of violating U.S. anti-money laundering laws and developing KuCoin into one of the largest cryptocurrency exchanges in the world.According to reports, U.S. Attorney Damian Williams for the Southern District of New York and Acting Special Agent Darren McCormack of the Department of Homeland Security's New York office announced today the unsealing of an indictment against KuCoin and its two founders, Chun Gan (alias "Michael") and Ke Tang (alias "Eric"), charging them with conspiracy to operate an unlicensed money transmission business and conspiracy to violate the Bank Secrecy Act, willfully failing to maintain an adequate anti-money laundering (AML) program designed to prevent KuCoin from being used for money laundering and terrorist financing, failing to maintain reasonable customer identification procedures, and failing to file any suspicious activity reports.Additionally, KuCoin is also accused of operating an unlicensed money transmission business and substantially violating the Bank Secrecy Act. Gan and Tang remain at large.