Today friend and crypto compliance pioneer Brandi Reynolds, CAMS-Audit, CCAS announced her new role as CCO of World Liberty Financial. I can’t suppose of a extra good match. Congratulations to Brandi and the WLFI workforce!
Brandi was lately on #TRMTalks and talked about how, since 2015, she has actually flown the airplane ✈️ on the subject of constructing a crypto compliance program (Brandi additionally occurs to be a pilot!)
Having labored at some of the main crypto exchanges and at Bates Group there isn’t any one who is aware of the nuts and bolts higher.
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Sure. So there’s so much of areas which might be very per, you understand, a conventional monetary establishment. So your buyer base, your product companies, your geographic places that you simply’re servicing and , you understand, different ancillary dangers which might be very distinctive to what you are promoting mannequin particularly. So with crypto, for instance, the danger of you nameless tokens, I’d be 1 danger. And also you of course, you’ve the issue for a lot of that wish to actually sort of extra lean on the DFA aspect. Some of the area and so it is using you all of the data that you’ve and to steadiness that with the expectations of FATA, the expectations of your fencing or different state regulators and put collectively a framework the place you possibly can steadiness and you possibly can present that you simply do perceive the danger. You possibly can mitigate it by totally different controls in place like know-how like TRM for instance, so to glean info to know who your clients are, you possibly can danger charge them. After which you possibly can mitigate any danger that they could pose to the the group.
