Regulatory Challenges of Cryptocurrencies And Virtual Assets
CSS Credits: 1.25
- Gabriel Hidalgo, Managing Director | FTI
- Keishana LaRose, Senior Consultant | FTI
- Amber Vitale, Managing Director | FTI
Alexander Witt CSS, Sanctions & Export Controls Consultant, ACSS
- 09:00 AM – 10:15 AM NYC
- 02:00 PM – 03:15 PM London
- 03:00 PM – 04:15 PM Amsterdam
As cryptocurrencies and virtual assets gain prominence in the global financial ecosystem, ensuring compliance with sanctions regulations becomes more critical than ever. Join us as we explore the intersection of digital finance and international sanctions, providing valuable insights and strategies to navigate this evolving field.
Attendees Will Learn:
- Cryptocurrencies and Sanctions: Understand how cryptocurrencies and virtual assets can inadvertently lead to sanctions violations, and grasp the significance of staying compliant in this rapidly changing environment.
- Regulatory Framework: Gain insights into the existing and evolving sanctions regulations that apply to cryptocurrencies and virtual assets, both in the U.S. and internationally.
- Detection and Monitoring: Explore methods and tools for detecting and monitoring transactions involving cryptocurrencies, ensuring compliance with sanctions lists and identifying potential risks.
- Risk Mitigation Strategies: Learn practical strategies for managing the inherent risks associated with cryptocurrencies and virtual assets, and how to implement effective risk mitigation measures.
- Case Studies: Delve into real-world case studies that illustrate the consequences of non-compliance in the realm of digital finance, and discover how organizations have successfully navigated sanctions challenges.
- Best Practices: Acquire actionable best practices for incorporating sanctions compliance into your cryptocurrency and virtual asset operations, safeguarding against legal, financial, and reputational risks.
Don’t miss this opportunity to gain a comprehensive understanding of the complex relationship between sanctions compliance and the world of cryptocurrencies and virtual assets.
Certificate of Attendance:
All active ACSS membership will be able to download the certificate from the Learning Management System (under the achievements tab).
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Mr. Hidalgo was also previously a Chief Compliance Officer at Community Federal Savings Bank (“CFSB”), an OCC chartered bank whose customer focus was on emerging foreign fintechs who wished to provide their products and services to U.S. customers. He led the compliance teams on both the BSA/AML and sanctions side as well as the consumer compliance side. Upon arriving at CFSB, Mr. Hidalgo successfully remediated all existing compliance issues previously detected by the OCC in 18 months. Additionally, Mr. Hidalgo was the first Global Head of Compliance for itBit (now known as Paxos), a virtual asset exchange located in New York. Under Mr. Hidalgo’s guidance, in 2015, itBit was granted the first financial institutional charter provided to a virtual asset service provider within the U.S., a Limited Purpose Trust Charter from the State of New York.
Before joining FTI, Ms. LaRose worked as an OFAC Sanctions Analyst at a Global bank. There, she analyzed both domestic and international wire and Society for Worldwide Interbank Financial Telecommunication (SWIFT) messages to mitigate risk and prevent unlawful transactions with OFAC sanctions targets. In addition, Ms. LaRose assisted in enhancing sanctions risk assessment policies and procedures, including analysis of qualitative data to identify key drivers of AML/OFAC risk and implement solutions.
Prior to joining FTI Consulting, Amber worked at the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) for five years, including as an Enforcement Section Chief, where she investigated cases involving financial services, oil and gas, shipping, electronics, agricultural, medical, and other industries. More recently, Amber was the Head of Sanctions Advisory at Brown Brothers Harriman & Co., where she was responsible for global sanctions policy and procedures; OFAC reports, guidance, and training; and the risk-based review of sanctions lists, critical data for screening, and screening system settings. Previously, Amber developed global anti-financial crime polices and conducted OFAC investigations as the Senior Compliance Officer for Economic Sanctions and Assistant General Counsel at AIG International. As an Associate at Schulte Roth & Zabel LLP, Amber advised banks, insurance companies, money-service businesses, broker-dealers, investment advisors and hedge funds on AML, OFAC and anti-bribery/corruption compliance and created various documents for these programs. She also served as a Director at a Big Four firm where she developed and led AML and OFAC-related remediation projects for financial institutions subject to regulatory orders.
Alexander Witt CSS
Sanctions & Export Controls Consultant
“I really appreciated the detail and references on the slides, very helpful”.
“Great job. Very informative”.