2026-01-09 20:42:09

Treasury Department Takes Action on MSB Compliance: Geographic Targeting Order Issued

The U.S. Treasury Department has issued a Geographic Targeting Order for the Minneapolis–St. Paul region following reports of funds transferred to overseas accounts. The Financial Crimes Enforcement Network (FinCEN) is now implementing enhanced monitoring protocols for Money Service Businesses operating in this area.

This enforcement action signals increased scrutiny on cross-border transaction flows and AML/CFT compliance requirements for MSBs. Financial service providers handling remittances and cryptocurrency transactions should review their due diligence procedures and reporting obligations to ensure full alignment with FinCEN directives.

The order underscores regulators' commitment to strengthening monitoring frameworks and reducing vulnerability to illicit financial activity.

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GasWaster

· 3h ago

Starting to do geographic targeting again, Minneapolis is the latest target. --- FinCEN is getting stricter and stricter. crypto wallets need to be careful. --- Basically, it's to prevent capital outflows. If you want to do cross-border transfers, you need to play by the rules. --- MSBs are having an even harder time, with compliance costs rising again. --- This regulatory framework is basically a death sentence for small platforms. --- Wait, could this affect the use of stablecoins? --- Regulations are becoming more detailed, and the necessity of decentralization is now more evident. --- Did Minnesota have another incident? Feels like I see this place often.

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