FinBEN issues ruling on Beanie Baby Payment System

{Update Watch this video about beanie babies subsequent to my post }   FIN-2014-R012 Issued: October 27, 2014 Subject: Request for Administrative Ruling on the Application of FinBEN’s Regulations to a beanie baby Payment System Dear [ ]: This responds to your letter of January 6, 2014, seeking an administrative ruling from the Financial Baby […]

How FINCEN regulations affects cloud based solutions in payment tech.

Just a few weeks ago, the Financial Crimes Enforcement Network (FINCEN) released a ruling about the applicability of the payment processor exception to a Bitcoin based company. As a little background, generally any company that transfers value between one party and another (or from one location to another) is deemed a money transmitter and subject […]