#CryptoRoundTableRemarks A federal level, the regulation of activities related to cryptocurrencies in the United States is based on the application of existing financial laws to digital assets, which creates inconsistencies due to the unique nature of these. Entities that engage in the exchange, transfer, or custody of cryptocurrencies are generally classified as Money Services Businesses (MSB) and must register with the Financial Crimes Enforcement Network (FinCEN). Such entities must implement comprehensive anti-money laundering and counter-terrorism financing (AML/CFT) programs, perform customer identification procedures (KYC), file Suspicious Activity Reports (SAR), and comply with the Travel Rule, which requires the transmission of specific information during transactions involving virtual assets.

In addition to FinCEN, several federal agencies exercise regulatory authority over different aspects of the cryptocurrency sector. The Securities and Exchange Commission (SEC) considers certain digital assets as securities and ensures compliance with applicable securities laws. The Commodity Futures Trading Commission (CFTC) classifies certain cryptocurrencies, such as Bitcoin, as commodities and oversees derivative markets based on these assets. Additionally, the Office of Foreign Assets Control (OFAC) requires compliance with U.S. sanctions programs, requiring companies to verify their customers and counterparties against designated lists.