Tag: AML
How To Determine Whether Your Crypto Business Requires MTL Licensure
November 4, 2019
One of the most challenging things about cryptocurrency compliance is the fact that MSB/money transmitters not only need to observe federal regulations but every...
The 3 Most Frequent Cryptocurrency Compliance Errors And How To Fix Them
October 21, 2019
Having an anti-money laundering (AML) process in place is step one for any reputable crypto business. However, even those with the best intentions have...
Crypto Compliance: Everything You Need to Know About Doing Business In The U.S.
October 14, 2019
Though there are countries around the world that are more friendly to cryptocurrency businesses, a lot of companies have their sights set on the...
Cryptocompliance 101: How To Know If A Customer Is A Politically Exposed Person (PEP)
October 7, 2019
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...
Cryptocompliance 101: How your business should incorporate the Funds Travel Rule
September 10, 2019
UPDATE: Funds Travel Rule compliance remains a contentious and unsettled issue within the cryptocurrency space. While a solution is not yet present as of...
5 Red Flags No Crypto Business Should Ever Ignore
July 29, 2019
Cryptocurrency businesses (specifically money services businesses (MSBs) money transmitters), whether consisting of large, international crypto exchanges or a single bitcoin ATM, must monitor transactions...
What cryptos need to know about the BSA’s ‘Fifth Pillar’
June 25, 2019
The BSA’s so-called ‘fifth pillar’ has created a lot of confusion over how it applies to crypto, if at all. This post explains what...
BitAML Introduces ComplyFit, An Innovative Money Transmitter License Management And Compliance Solution For The Cryptocurrency Industry
April 15, 2019
On-demand workplace platform also streamlines numerous day-to-day institutional compliance tasks including reporting, record-keeping, and transaction monitoring. Financial institutions (FIs) in the cryptocurrency industry...
Cryptocompliance 101: The Importance Of Annual Audits And Independent Testing
April 8, 2019
Your AML compliance program is only as good as a third party says it is. Thus, annual AML audits (or independent AML reviews as...
