CrossTower Inc, offers an online digital asset exchange, and is accordingly registering as a Money Service Business (“MSB”) with the Department of the Treasury.
With an MSB license, CrossTower is subject to the Bank Secrecy Act, which requires MSBs to develop, implement, and maintain an effective written risk-based anti-money laundering ("AML") program reasonably designed to prevent the MSB from being used to facilitate money laundering and the financing of terrorist activities.
CrossTower is also actively engaged with U.S. states to register as a Money Transmitter, where applicable, which also requires the implementation of an AML program.