- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Joe Mont2019-03-25T21:46:00
Despite failures, plummeting prices, and a plethora of risks, financial institutions and central banks are cautiously looking at ways to use virtual currencies. International regulators are warning them that doing so haphazardly could be disastrous.
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Taking into account the Trump administration’s trade concerns involving cryptocurrencies, the Treasury Department has announced it will roll out new regulations later this year.
A federal court has ruled that the Commodity Futures Trading Commission has the power to prosecute fraud involving virtual currency.
FINRA wants the brokerage firms and exchanges it oversees to alert it if they engage in activities related to digital assets and cryptocurrencies.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
