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Application of Money Services Business Regulations to the Rental of Computer Systems for Mining Virtual Currencies

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Citation Edit

Department of the Treasury, Financial Crimes Enforcement Network, Application of Money Services Business Regulations to the Rental of Computer Systems for Mining Virtual Currencies (FIN-2014-R007) (Apr. 29, 2014) (full-text).

Overview Edit

This document responds to the question: "[W]hether the rental of computer systems for mining virtual currency would make the Company an administrator of virtual currency or a money transmitter under the BSA."

The document concludes that "the Company is not functioning as an administrator of virtual currency and that the Company's renting of mining computer systems to third parties does not make the Company a money transmitter under BSA regulations.

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