derisking Tag

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...

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 following is an excerpt from an article published on Moneylaundering.com in which BitAML founder, Joe Ciccolo, shares his thoughts on the evolution of fintech compliance. “…Some fintech firms have registered as money services business—perhaps the most familiar category of financial customer to bankers and regulators...

Earlier this week, FinCEN released a transcript of prepared remarks delivered by Deputy Director Jamal El-Hindi to the Conference of State Bank Supervisors (CSBS) on May 26th. The topic of discussion was bank “de-risking”. This, of course, remains a critical concern for bitcoin companies, most of whom struggle...

The following is an excerpt from an article published on BTCManager in which BitAML founder, Joe Ciccolo, discusses bitcoin and banking relationships: Joe Ciccolo, Founder and President of the Illinois-based BitAML, a regulatory compliance consulting company devoted exclusively to helping digital currency startups and small businesses,...

The Australian Competition and Consumer Commission (ACCC) determined that there was no evidence banks colluded prior to closing accounts held by bitcoin companies. Ultimately, it was the ACCC’s determination that banks had acted on an individual basis in consideration of their own unique circumstances. The ACCC was...

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