FinCEN warns financial institutions to monitor suspicious activities at crypto kiosks, which criminals exploit for fraud and scams, especially targeting older adults. The agency stresses the need for compliance with the Bank Secrecy Act to combat such risks.

FinCEN has raised concerns about crypto kiosks being exploited for fraud and money laundering, urging increased monitoring and compliance from financial institutions. Rising fraud cases, particularly affecting the elderly, underscore the need for tighter controls in the U.S. financial system.

The recent inaugural NYC Digital Asset Summit Roundtable, hosted by Mayor Eric Adams, focused on New York City’s strategy for engaging with the blockchain sector. Key participant Joshua Maddox stressed the importance of public-private collaboration for scaling Web3 adoption. NYC Reopens Doors to T