compliance Tag

At first glance, when thinking about the challenges in applying the Travel Rule to cryptocurrency, the most immediate and common reaction is to exclaim that cryptocurrency is not engineered for transmitting customer information with the funds. For those in crypto, it’s another square peg fitting into...

It's no secret that regulators and the cryptocurrency industry have a rocky history together. Both frequently misunderstand and work past each other, even though regulators and cryptocurrency business owners share the same goal: fostering the conditions that lead to a fair, competitive, and healthy market. The relationship...

To operate as a cryptocurrency money services business (MSB)/money transmitter, you need to complete the registration process through the Financial Crimes Enforcement Network’s (FinCEN’s) online platform. Part of the registration process includes the agreement with regulatory guidelines and adherence to certain requirements to maintain compliance. One...

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 individual state’s unique financial regulations as well.  This might not be that bad if you’re just opening a single crypto ATM in...

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...

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...

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