October 11, 2019 SEC, CFTC and FinCen official issue joint statement warning blockchain industry to abide by U.S. banking laws.

Directors of the three agencies warned those involved in “digital asset-related activities” must comply with laws such as the Bank Secrecy Act, regardless of how they choose to classify their tokens. Among other mandates, the agencies require virtual asset service providers to “implement reasonably-designed AML Programs and report suspicious activity.”