Bitcoin Company HashingSpace registers for US FinCEN regulations

Virtual currency firm HashingSpace Corporation has announced that it has filed its Registration of Money Service Business (RMSB) form with the U.S. Financial Crimes Enforcement Network (FinCEN).

The Bitcoin ASIC mining and hosting company’s decision was announced by Terry Taylor who is the Chief Financial Officer of HashingSpace. Announcing the decision of the company she said, “we are pleased to announce the completion of this vital step towards full compliance with the federal regulations applying to our business.”

She also tried to address concerns of law enforcement official who have been suspicious of the Bitcoin’s abuse by anti-social elements. Adding more to her comment she vowed that “money laundering, terrorist financing and other illicit activity have no place in our financial system, and HashingSpace is committed to developing a comprehensive culture of compliance to ensure it stays off of our network. At the same time, our proprietary policies and procedures minimize the friction usually experienced by customers signing up for a regulated service.”

FinCEN is a bureau of the United States Department of the Treasury and has been formed with the aim to protect the financial routes from being abused for money laundering and also to safeguard national security via

Read more ... source: NewsBTC USA