According to PANews, the Federal Bureau of Investigation (FBI) in the United States has issued a warning against using cryptocurrency transfer services provided by companies that are not registered as Money Service Businesses (MSB) under federal law. The FBI has also provided an official tool from the Financial Crimes Enforcement Network (FinCEN) that allows users to check if a company is registered as an MSB. Furthermore, the FBI has cautioned users not to use crypto services that do not require Know Your Customer (KYC) information before allowing the sending or receiving of cryptocurrencies.
The statement said, 'The FBI has recently taken enforcement action against cryptocurrency services that have not been licensed under federal law. Individuals using unlicensed cryptocurrency transfer services may experience financial disruption during enforcement action, especially when their cryptocurrency is mixed with funds obtained through illegal means.' 'Cryptocurrency transfer services that knowingly or intentionally assist in illegal transactions will be investigated by law enforcement agencies. Using services that have not fulfilled their legal obligations may cause you to lose access to your funds after law enforcement agencies take action against these companies.'