All blockchain articles
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PremiumQ&A: Paxful CCO on ramping up compliance after BSA failures
Manfred Bekeris, chief compliance officer at cypto peer-to-peer network Paxful, sat down with Compliance Week to talk about joining the company shortly before its former chief operating officer and co-founder pled guilty to violating the Bank Secrecy Act.
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PremiumFed governor: Regs should engage with industry on safe DLT use in banking
Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
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PremiumQ&A: Paxos CCO on defying stereotype of lax controls in digital asset industry
Carolina Ceballos, the first full-time chief compliance officer at Paxos, shares with Compliance Week what the blockchain infrastructure platform does, its culture, and how it uses compliance as a competitive advantage.
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PremiumOCC’s Hsu: FIs wise to include risk, compliance in tech product development
As financial institutions mull potential growth opportunities with digital asset and artificial intelligence tools, Acting Comptroller of the Currency Michael Hsu warned against leaving risk and compliance teams out of the loop.
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ArticleNavigating using NFTs in business applications
Non-fungible tokens can take many forms. There are potential business applications already in use, and many more are being developed as technology evolves.
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ArticleFinancial crime within the metaverse
The momentum gathering behind the “metaverse”—a universe of virtual worlds built on blockchain technology—should be of keen interest to everyone in the regulation and compliance space, given its potential impact in terms of business, ethics, financial crime, and safety.
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ArticleRisk matrix breaks down problem areas of blockchain technology
The use of blockchain technology brings with it a number of risks that prudent auditing and accounting professionals must smartly manage. It’s all described in a new risk matrix released jointly by the ISACA, AICPA, and CIMA.
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ArticleCryptocurrency’s future: What compliance needs to know
Cryptocurrency is complicated, but it’s not going away anytime soon. David Povey of the ICA takes a look at what regulators are trying to do and offers tips on where compliance officers can go to study this complex topic further.
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ArticleTelegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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ArticleInternal control best practices for blockchain technology
Those in accounting who want to understand better the inherent risks, threats and vulnerabilities, and internal control best practices associated with the use of blockchain technology now have a first-of-its-kind framework to follow.
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ArticleSEC seeks to thwart cryptocurrency masquerading as ICO
The SEC is taking a different approach to target initial coin offerings than it has in the past in the case of its complaint against Telegram Group and its wholly owned subsidiary TON Issuer.
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Article
EY launches public finance management blockchain solution
EY announced the launch of EY OpsChain Public Finance Manager, a blockchain-enabled solution designed to help governments improve their processes for financial management of public funds.
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ArticleBlockchain company to pay $24M for unregistered ICO
Block.one has agreed to settle charges with the SEC and pay a $24 million civil penalty for conducting an unregistered initial coin offering of digital tokens that raised the equivalent of several billion dollars.
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ArticleFINMA publishes AML guidance on blockchain
The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.
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ArticleBlockchain: The new frontier for supply chain risk management
A new pilot project currently being explored by the U.S. Food and Drug Administration has enlisted IBM, KPMG, Merck, and Walmart to help determine how to incorporate blockchain into pharmaceutical supply chains.
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ArticleFed Chair urges caution with Facebook virtual currency venture
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
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ArticleReps urge White House to support blockchain
Bipartisan members of Congress are urging the Trump administration to throw its tech focus onto blockchain.
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ArticleAnatomy of a cryptocurrency pyramid scheme
Much has been discussed about the business risks posed by cryptocurrency. Now, risk and compliance professionals have a real-life cryptocurrency pyramid scheme with which to cite.
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Blog
TRON hires its first head of compliance
David Labhart, a former supervisory attorney with the U.S. Securities and Exchange Commission, has joined TRON as the blockchain network's first head of compliance to help navigate its interaction with regulatory agencies and other financial authorities around the world.
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Blog
Even with new technology, auditors face same demands
Whatever changes technology might bring to financial reporting, auditors still face the same auditing standards and expectations from regulators.