Re: FINCEN 2020-0020 RIN 1506-AB47 Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets

GlobalDCA and its industry partners have responded! Please see below submission to Dept of the Treasury/Financial Crimes Enforcement Network 2020-0020 RIN 1506-AB47 Convertible Virtual Currency Digital Assets

While we greatly respect and support the need to protect U.S. National Security interests, we believe that the requirements outlined by this proposed rule may not only fail in achieving this desired outcome, but may in fact undermine ongoing efforts to remove nefarious actors and minimize illicit activities harmful to national security, harm the global competitiveness and positioning of the U.S. in the global digital economy; and inhibit the contribution of the digital asset industry to job creation and economic growth in the U.S.

View the GlobalDCA submission to the Department of Treasury’s Kenneth Blanco