U.S. Treasury fines first unregistered Bitcoin P2P dealer

According to the Wall Street Journal, the US Department of Finance's Financial Crimes Department (FinCEN) recently imposed a fine on a Californian man accused of violating anti-money laundering laws, amounting to $35,000 because he traded on behalf of clients without a permit. Hundreds of bitcoins. FinCEN said on Thursday that this is the first time the department has taken enforcement action against virtual currency P2P transactions. Six years ago, FinCEN issued its first guidance, requiring individuals who buy and sell Bitcoin or other virtual currency on behalf of others to register as a money service company.