Ask any centralized cryptocurrency firm to name one of their biggest priorities or challenges—and then count the number of times they mention bank partnerships. For crypto firms, the loss of, or failure to acquire, a bank...more
1/16/2025
/ Bank Secrecy Act ,
Blockchain ,
Compliance ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
FCC ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Governance Standards ,
Internal Controls ,
Know Your Customers ,
OCC ,
Popular ,
Regulatory Requirements ,
Risk Management ,
Service Level Agreements
FATF’s latest Targeted Update Report on Implementation of the FATF Standards on VAs and VASPs stresses that many jurisdictions continue to struggle with the fundamentals of virtual asset regulation, including undertaking risk...more
7/23/2024
/ AML/CFT ,
Blockchain ,
Data Collection ,
Digital Assets ,
FATF ,
Jurisdiction ,
Money Laundering ,
Popular ,
Proposed Legislation ,
Public Workshops ,
Risk Assessment ,
Shareholders
Following a two-month public consultation period, on 15 November 2023 the New York State Department of Financial Services (NYDFS) published its new Virtual Currency Listing Guidance (the Guidance), in accordance with virtual...more
11/21/2023
/ Conflicts of Interest ,
Cryptocurrency ,
Cybersecurity ,
Governance Standards ,
Liquidity ,
NYDFS ,
Policies and Procedures ,
Retail Investors ,
Risk Assessment ,
Self-Certification ,
Stablecoins ,
Unfair or Deceptive Trade Practices ,
Virtual Currency
Summary of What Has Happened and What Is Yet to Come -
On 19 October 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rule Making (NPRM), pursuant to...more
11/14/2023
/ Convertible Virtual Currencies (CVCs) ,
Department of Justice (DOJ) ,
Employee Benefits ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
Notice of Proposed Rulemaking (NOPR) ,
Office of Foreign Assets Control (OFAC) ,
Patriot Act ,
Popular ,
Proposed Regulation ,
Recordkeeping Requirements ,
Reporting Requirements ,
Risk Assessment ,
Risk Management ,
Suspicious Activity Reports (SARs) ,
Terrorist Financing ,
Transparency ,
Virtual Currency