Blaqclouds, Inc. Applies for FinCEN Registration as a Money Services Business (MSB) and Initiates Share Audit Following Management Transition
ROBESONIA, Pa., Oct. 20, 2025 (GLOBE NEWSWIRE) -- Blaqclouds, Inc., a Nevada corporation (OTC: BCDS), today announced that it has officially submitted its application to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) to register as a Money Services Business (MSB) under the Bank Secrecy Act (BSA). While the application has been formally accepted, the company anticipates receiving its BSA ID within the next two weeks, marking a major milestone in its pursuit of full regulatory compliance and financial transparency.
“Registering as a Money Services Business with FinCEN represents a critical step forward in aligning our Web3 payment technologies with existing U.S. compliance frameworks,” said Shannon Hill, CEO of Blaqclouds, Inc. “This filing allows us to continue building decentralized financial infrastructure with the safeguards expected of regulated institutions.”
Initiation of Share Audit and Legal Review Post-Management Change
In conjunction with the FinCEN filing, Blaqclouds has also launched a comprehensive audit of all common stock transactions and share issuances that occurred during the period of April 2025 through October 7, 2025. This action follows the re-acquisition of control of the company by new management on October 7, 2025, a turning point for the integrity and strategic direction of Blaqclouds.
Key audit details include:
- The original acquisition of Blaqclouds occurred in November 2024, at which time the total outstanding share count was fewer than 400 million shares, of which the prior CEO personally held 250 million shares.
- During the disputed period between April and October 2025, the previous CEO:
- Canceled their own 250 million common shares,
- Increased the authorized share count to 1 billion shares, and
- Issued over 650 million shares through alleged 3rd-party debt conversions.
- During the Company’s initial review, it was determined that two Notices of Conversion—each resulting in the issuance of 87 million shares, totaling 174 million shares—may have been executed without valid legal authority. The Company has formally notified its transfer agent to begin the process of investigating and correcting these irregularities.
“We need to determine if these actions were taken with proper shareholder approval, legal board authorization and required public disclosure,” said Shannon Hill. “Our legal team is currently reviewing all associated instruments and has been instructed to initiate cancellations and pursue litigation, if necessary, to safeguard the integrity of our capital structure and protect the interests of our legitimate shareholders.”
Commitment to Transparency and Compliance
Dominion Stock Transfer is Blaqclouds official transfer agent and is working closely with the Company to reconcile and validate all share issuances during the disputed period. Once the audit is complete, the company will publicly disclose the findings and update its shareholder records accordingly.
With the FinCEN MSB registration process underway and a thorough legal and financial review in progress, Blaqclouds continues to demonstrate its commitment to operating as a trustworthy and fully transparent Web3 financial services company.
About Blaqclouds, Inc.
Blaqclouds bridges legacy finance with decentralized networks, creating seamless, real-world blockchain solutions that unify commerce and payments. Its mission is to make spending crypto as easy, trusted, and useful as cash.
Flagship consumer applications include:
- – Crypto-to-gift card commerce
- – Web3 payment infrastructure
- – EVM-native decentralized exchange
- – Secure, consumer-grade blockchain wallet
A full list of Blaqclouds WY and NV platforms can be found at:
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that may cause actual results to differ materially. Blaqclouds, Inc. assumes no obligation to update or revise any forward-looking statements.
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