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."
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.
How 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.
So how can an emerging industry build a future-
proofed system for compliance? Reynolds 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/
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.
How 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.
So how can an emerging industry build a future-
proofed system for compliance? Reynolds 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/