FBI Warns: Unregistered Crypto Transmitters Risky! The FBI has sounded the alarm, cautioning Americans about unregistered crypto money transmitters. These services must be
registered as Money Services Businesses (MSBs) to comply with federal law.
Stay Safe: The FBI's Internet Crime Complaint Center (IC3) urges you to be wary of non-compliant crypto services. Don't fall for those that skip
anti-money laundering checks or don't collect your
KYC info.
Before diving in, do your due diligence! Verify a service's MSB registration on FinCEN's website. Big names like Coinbase and Kraken have passed the test, but others may not.
Beware the consequences: Using unlicensed crypto services can lead to financial woes if law enforcement swoops in. Your funds could be caught up in legal tangles and become inaccessible.
The crackdown continues: The US government is intensifying its efforts against crypto mixers, targeting platforms linked to illicit activities. Blenderio faced sanctions, while Tornado Cash's co-founders were arrested.
