My foreign-owned LLC accepts cryptocurrency payments — what AML rules apply to crypto transactions?
I am a Turkish citizen with a U.S. LLC that sells software licenses. I recently started accepting Bitcoin and USDT payments from international customers because wire transfer fees were eating into my margins. A friend told me that crypto has its own AML rules and I might need to register as a money services business. My LLC just receives crypto as payment for software — I am not running an exchange or converting crypto for other people. Do crypto AML rules apply to me? Do I need to report crypto transactions to FinCEN?
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