U.S. Watchdog Seeks More Funding For Crypto, MSB Monitoring

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) is doubling down on efforts to stem cybercrime and keep watch over what it deems to be "high-risk" non-bank money services businesses (MSBs), such as cryptocurrency exchanges.

FinCEN's push to prioritize those areas was made clear in its new federal budget request for fiscal year 2020, in which the financial crime watchdog asked Congress for a nearly $10m bump in funding to "enhance its national security capacity."

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