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Twitter Subsidiary Registered With FinCEN as a Money Service

Today’s Cryptocurrency Headline

According to a registration filing with The U.S. Financial Crimes Enforcement Network (FinCEN), the Twitter subsidiary registered its money services business with FinCEN on November 3. The registered entity is Twitter Payments LLC, according to The Block. The company was founded in Washington State in August. FinCEN oversees the activities of the US money services business, which is part of the Treasury Department and to which registered companies must report suspicious transactions. The filing came shortly after Musk bought the company for $44 billion, and Musk had previously considered turning Twitter into a so-called “everything app.” According to Reuters, Musk has talked about expanding Twitter’s service to include encrypted payments.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin extended its losses yesterday, briefly dipping below $16,000 and breaking through an earlier support point. In the short term, bitcoin price is currently fluctuating in the range of $15,000 to $18,000, with upward pressure near $18,500. The bearish trend in bitcoin has strengthened at the daily level.

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