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At a recent conference of AML professionals, Central Bank of Nigeria (CBN), Deputy Director of Financial Policy and Regulation, Obot Akpan, labeled digital currency “dangerous” and a “channel for money laundering”. Mr. Akpan arrived at this conclusion because, in his words, it’s “not a legal...

Reserve Bank of India (RBI) Deputy Governor, SS Mundra, called for “appropriate regulatory changes” to accommodate the oversight of cryptocurrency. Mr. Mundra hinted at a comprehensive and multi-facetted regulatory framework, reminiscent of New York’s BitLicense, when referencing “…concerns around orderly growth of the system, consumer...

We're pleased to announce that BitAML Founder & President, Joe Ciccolo, will be moderating the regulatory panel discussion at Inside Bitcoins, San Diego. The panel, "US and Beyond: Current Regulatory Examinations and Enforcement Actions", will be held on Day #2 (12/15) of the conference from...

As you’re all well aware, earlier this year, Ripple was the subject of the first digital currency enforcement action leveled by regulators for BSA/AML violations. FinCEN and the U.S. Attorney’s Office assessed $750,000 in fines, as well as (even more costly) “enhanced remedial measures”. The...

Another week, another bitcoin company packing up the Family Truckster and leaving New York for greener pastures. LocalBitcoins announced its exit from the Empire State market in a recent company blog post. This followed similar announcements from other high-profile companies, including Kraken, BitFinex, ArtByte, Genesis...

The director of the Office of the Comptroller of the Currency (OCC), Thomas Curry, called for a balanced approach to regulating new financial technologies such as bitcoin. “It’s our job as a regulator to support and even encourage innovation that helps bank customers,” Director Curry...

We’re pleased to announce that BitAML will sponsor ISU’s bitcoin club in conjunction with the Champaign-Urbana Bitcoin Meetup. The first meeting is scheduled for September 1st at 5:30pm on the campus of ISU. BitAML Founder & President, Joe Ciccolo, will serve as the club’s co-chair....

Promote and demand a “culture of compliance” within your organization: It’s not just another AML concept or buzz term. Nay. Compliance should be a cultural ethic that permeates throughout your business. It begins and ends with the tone at the top. Set the standard for...

Not surprisingly, following the arrest of Mt. Gox CEO Mark Karpeles comes word that the Japanese government may seek to implement a formal licensure process for bitcoin exchanges. This was to be expected and has otherwise been greeted by the bitcoin industry with a collective...

Following conflict of interest accusations, the former NYDFS Superintendent publicly responded to critics by saying he’s not doing any work in the digital currency space. Notwithstanding Mr. Lawsky’s denial, the optics of establishing a private practice purporting to help clients navigate the very rules you...

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