Crypto FAQ - How is cryptocurrency regulated in the USA?
Cryptocurrencies and cryptocurrency exchanges are legal in the USA and fall under the regulatory scope of the Bank Secrecy Act (BSA) and Anti-Money-Laundering (AML) laws. The Anti-Money Laundering Act of 2020 codifies prior Financial Crimes Enforcement Network (FinCEN) guidance by making all transactions in which “value that substitutes for currency” (including digital and other cryptocurrencies) subject to reporting FinCEN requirements and money transmitter registration.
Cryptocurrency regulations vary from state to state and are typically covered under existing money transmitter rules.
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