The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.

Until recently, the cryptocurrency world was a wild wild west for regulators. However, as the industry has matured, there has been a marked change in perspective where policymakers are now much more engaged with crypto regulation and accept that not all crypto is "criminal money."

Discover the best professional documents and content resources in AnyFlip Document Base.
Search
Published by francis, 2022-08-09 02:26:17

How can Crypto Companies be Prepared to Meeting Digital Currency Legal and Regulatory Obligations?

Until recently, the cryptocurrency world was a wild wild west for regulators. However, as the industry has matured, there has been a marked change in perspective where policymakers are now much more engaged with crypto regulation and accept that not all crypto is "criminal money."

Keywords: How can Crypto Companies be Prepared to Meeting Digital Currency Legal and Regulatory Obligations?

New Wave
Cryptocurrency
Regulations and

Compliance.

As the industry has matured, there has been a marked change in perspective where
policymakers are now much more engaged with crypto regulation and accept that not all
crypto is "Criminal money." ‍What does this mean for the future? The Evolution of Crypto

Regulation A lot has changed since

Not too long ago, crypto got a
bad reputation for becoming a
go-to financial crime financing

method.

"In most countries, politicians and regulators are talking
about crypto.
There is still much uncertainty
and a lack of education around
the topic.

However, the topic of crypto is everywhere.

‍Benefits of Increased Regulatory
Measures 
While crypto has traditionally
been coveted by many for the anonymity

associated with its use, there is a
perception that more regulation is a good

thing for the industry's longevity.

H‍ ow to Build a Future-Proofed Crypto Compliance Program 
It has become clear that building
crypto compliance programs that offer substantial forms of protection without a pre-defined
roadmap for success are one of the most significant challenges these organizations face.

"‍Most crypto companies operate
on unique business models with
minimal precedent in regulatory

compliance.

As such, a crypto AML program can't be designed as an 'off the shelf' document,
and it is going to require a significant amount of 'outside the box thinking to be best
suited to a given firm's needs," Brandi Reynolds, Managing Director of the Bates

Group explains.

S‍ o how can an emerging industry build a future-
proofed system for compliance? R‍ eynolds advises
that crypto firms should take a proactive approach in
managing their relationships with their regulators,
including reaching out to regulators before starting a

business to understand the necessary

It is clear then that the future of crypto regulations and the success of crypto
compliance programs will be heavily influenced by the tools and technology

used to bolster these systems.

 Near term, crypto regulation
will continue to present many

questions.

Find Out More At https://ampraider.com/


Click to View FlipBook Version