Travelers who enter the United States or move around the country with sums of money over $10,000, in local currency or other financial instruments, must declare it to the federal agency.

The authorities seek to deepen controls on crimes such as money laundering, with new controls, such as fines of $500,000 and up to 10 years in prison for those who do not comply with the new financial transparency regulations.

The measure has been announced by officials of the Customs and Border Protection Office (CBP), an entity that “requires that any traveler who exceeds the limit of 10,000 dollars make an official declaration. This can be done through several methods, including specific forms provided by customs authorities. One of them is the CBP Form 6059B.”

The regulation applies to “coins or bills from the United States or another country, traveler’s checks of any type; all negotiable instruments (personal, commercial, official bank, cashier’s, third-party checks, promissory notes and money orders) that are in the name of the bearer, endorsed without restrictions, in the name of a fictitious beneficiary, or otherwise, in such a way that the title is transferred at the time of delivery.”

It is also applicable to “incomplete instruments (personal, commercial, official bank, cashier’s, third-party checks, promissory notes and money orders) signed, but with the name of the beneficiary omitted; securities or shares in bearer form or otherwise, such that title is transferred to them at the time of delivery.”

The declaration to enter or leave the US with the aforementioned sum in cash or a larger combination of monetary instruments may be made using Form FinCEN 105, which the interested party must print and deliver to the Customs and Border Protection agent upon entering or leaving the US. Also, by completing and sending the FinCEN Form online at least three days in advance of the trip.

M.Pino

Source: infobae

(Reference image source: Vladimir Solomianyi on Unsplash)

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La entrada United States will fine travelers who do not declare assets upon entering the country apareció primero en Bitfinance.

The Paraguayan Senate approved increasing the penalty for Bitcoin miners without proper authorization to 10 years in prison, thus continuing the request made last month by Senator Ever Villalba by modifying article 173 of the Penal Code.

The Senate voted on the proposal, which was approved with 29 votes in favor and 7 abstentions (there were no votes against), which also authorizes the seizure and confiscation of ASIC equipment.

Thus, the South American country will increase the penalty to 10 years in prison based on the “crime of theft of electrical energy for commercial or industrial purposes, as well as establishing the confiscation of the equipment used and its subsequent delivery to the National Electricity Administration (ANDE in Spanish)”.

After obtaining approval by the Upper House of Paraguay, it must be sent to the Chamber of Deputies and if it is also approved there, it will be transmitted to the office of President Santiago Peña so that he can promulgate or veto the bill.

It is important to note that there are four other legislative proposals on Bitcoin and activities related to its mining, such as one that proposes its prohibition in the country.

M.Pino

Source: iProup

(Reference image source: Michael Förtsch in Unsplash)

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La entrada Unauthorized Bitcoin mining will be punished with ten years in prison in Paraguay apareció primero en Bitfinance.