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 collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities.
HashingSpace has been making all the right moves these days, just a few days back we had reported that it has launched a Bitcoin mining pool called Hashpool.com that also has iOS and Android Apps for miners to give them a better experience.
The company has on several occasions expressed its commitment to put together key infrastructure so that the Bitcoin usage could be spread universally. It strives to extend the use of this infrastructure for Bitcoin Mining Farms, ASIC Miner Colocation, ATM’s and Wallets as it sees more growth in this market.