Cryptocurrency Compliance: An AML Perspective

Sherri Scott, CAMS-Audit

While consistent regulation is lacking, virtual currency exchanges (VCEs) are being denied fair banking services because they are being “de-risked” by financial institutions (FIs). The discrimination from fair banking services VCEs are facing is comparable to the medical marijuana industry. Unlike its high-risk counterpart, Fintech innovators operate in a field that is federally legal. We will embark on a journey through a brief history of cryptocurrency, the tides of regulation, and the storms to come.

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