Though there are countries around the world that are more friendly to cryptocurrency businesses, a lot of companies have their sights set on the United States. If you can get established in the U.S., you gain access to many more potential customers and can grow...
It’s an exciting time to be involved in a cryptocurrency business because the industry is so new and growing so quickly. It’s a lucrative pursuit and demand is increasing rapidly. However, to be successful in a crypto business it’s essential to follow proper rules and regulations....
When a suspicious transaction takes place, the right people need to know. A Suspicious Activity Report (SAR) is the tool financial institutions use to report potential suspicious activity to the authorities. But do you know when to fill out a SAR? Or why SARs are even...
How risky is it to start a business in the cryptocurrency space? We're not talking about personal financial risk, like the risk of losing an investment in a startup, or your own profits if the crypto market is down. When we talk about risk, we're talking about...
Know Your Customer (KYC) and Customer Due Diligence (CDD) are mission-critical components of successful cryptocurrency compliance. But like most things, their value is dependent on their efficacy. How do cryptocurrency businesses stay ahead of rapidly evolving and increasingly sophisticated financial crime in the space? Simple. By...
Are you confused about the Funds Travel Rule and how it applies to crypto? If so, you're hardly alone. Even blockchain and cryptocurrency experts are still trying to work out the details. Though the initial confusion over the surprise ruling has died down in recent weeks,...
Starting a new business in crypto is risky. It's a new industry built on new technology. New industry means unclear regulatory expectations, and new technology means an increased inherent risk for criminal activity. On top of the usual risks of starting a new business in a...
The cryptocurrency industry is faced with numerous unique challenges. But the most consequential is the need to demonstrate legitimacy, particularly to increasingly hawkish regulators and a skeptical mainstream. Entrepreneurs are attracted to the space for understandable reasons. Cryptocurrency is new, it's exciting, and it's innovative. There's...
Does your cryptocurrency business have a board of directors? It should. For financial institutions and money services businesses (including crypto MSBs), the board of directors provides essential oversight to ensure a business operates safely and in compliance with all relevant laws and regulations. No matter what type...
If you’re newer to crypto, you might hear the acronyms HIFCA and HIDTA tossed about in relation to risk analysis. if so, you've probably wondered what they mean. If you're just looking for a quick answer, this post will explain what HIFCA and HIDTA are in...
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