cryptohunter
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EMIs in the U.S. are regulated at the federal level primarily by the Financial Crimes Enforcement Network (FinCEN). They must comply with the Bank Secrecy Act (BSA), which mandates the establishment of anti-money laundering (AML) and know your customer (KYC) programs. EMIs are subject to reporting requirements to detect and prevent financial crimes.
Additionally, State regulators, such as state banking departments or financial institutions divisions, may impose specific licensing and compliance obligations. Federal regulators like the Office of the Comptroller of the Currency (OCC) have engaged in discussions regarding the regulatory framework for fintech companies, including EMIs, to ensure they meet safety and soundness standards.
Additionally, State regulators, such as state banking departments or financial institutions divisions, may impose specific licensing and compliance obligations. Federal regulators like the Office of the Comptroller of the Currency (OCC) have engaged in discussions regarding the regulatory framework for fintech companies, including EMIs, to ensure they meet safety and soundness standards.
