Stratis Participates in International Bank Executive Seminar and Talks Alternative Payment Systems

Stratis Participates in International Bank Executive Seminar and Talks Alternative Payment Systems

On August 4, 2015, Brian Stoeckert from Stratis participated in an executive seminar for an international bank in New York City.  The private invitation-only event included executives from banks around the globe.  Mr. Stoeckert was the opening session and provided an overview of alternative payment systems, highlighting how these new systems are pushing the traditional financial system… more

What We Said: ACAMS 3rd Annual AML & Financial Crimes Conference Canada

On June 8, 2015, Stratis Advisory’s Brian Stoeckert participated on a virtual currency panel entitled “Retooling Compliance Programs to Address Virtual Currencies” at the ACAMS 3rd Annual AML& Financial Crimes Conference in Toronto, Canada. The panel tackled a number of issues regarding Canadian and U.S. AML regulation of virtual currency use, companies operating in the ecosystem, and predictions… more

Brian Stoeckert to Testify at New Jersey General Assembly Financial Institutions and Insurance Committee Hearing on Digital Currency

CoinComply’s anti-money laundering (“AML”) and digital currency expert, Brian Stoeckert, will be testifying at the New Jersey General Assembly Financial Institutions and Insurance Committee Hearing on Digital Currency on February 5, 2015.  Based on his extensive experience in assisting financial institutions and non-bank financial institutions comply with AML and sanctions laws and regulations, he will discuss an overview… more

Bitcoin Law Conference: A Broader View of Crypto Regs

New York Law School held a #BitcoinLaw Regulation and Transactions conference earlier today in New York City.  A panel of industry experts, including CoinComply’s Brian Stoeckert, discussed the new landscape of federal and state regulations for cryptocurrencies.  A brief highlight of the topics discussed in the session are identified below: Is Bitcoin ‘money’ per se? Impact of… more

Another Guilty Plea for Unlicensed Money Transmission of Liberty Reserve, the Centralized Virtual Currency Exchanger

Liberty Reserve, the prominent centralized virtual currency exchanger that was shut down by U.S. authorities last summer for numerous violations of operating an unlicensed money transmission business and money laundering charges, continues to work itself through the legal system.  Last Thursday, the Chief Technology Officer for Liberty Reserve pleaded guilty to conspiring to operate an illegal unlicensed… more

FinCEN Fines Another MSB For AML/BSA Program Violations, Stresses Importance of Developing a Compliant Program, CIP Recordkeeping, and SAR Filing

The Financial Crimes Enforcement Network (FinCEN) issued a $125,000 civil money penalty to a registered money service business (MSB) BPI, Inc. (BPI) of Newark, New Jersey.   According to the FinCEN registration, BPI, Inc. was registered as money transmitter.  Although BPI was an MSB that did not deal with digital currencies, this case highlights several ‘lessons learned’ for digital… more

Suspicious Activity Reporting (SAR) Training for Digital Currency Companies Receives Accreditation from ACAMS®

CoinComply’s comprehensive Suspicious Activity Reporting (“SAR”) Training Program for Digital Currency Companies is now accredited by ACAMS,  the worldwide leader in AML certification, education, and training.  The program is designed for digital currency start-ups to gain the critical knowledge on suspicious activity detection and SAR filing, which are key requirements of a compliant AML/BSA program.  SAR filings fall… more

AML/BSA Training for Digital Currency Companies Receives Accreditation from ACAMS®

CoinComply’s comprehensive anti-money laundering (AML) and Bank Secrecy Act (BSA) training program for digital currency companies is now accredited by ACAMS  the worldwide leader in AML certification, education, and training. The program is designed for digital currency start-ups to obtain and enhance their knowledge on all things related to complying with the BSA and developing a compliant AML/BSA… more

A “C” Change for Virtual Currency

What’s the “C” change all about?  Well, it’s called “Compliance” and FinCEN’s March 18, 2013 interpretative guidance changed the landscape of the Bitcoin ecosystem.   In an article published in ACAMS Today, the magazine for Anti-Money Laundering professionals (compliance officers, regulators, law enforcement officers, bankers, lawyers, etc.), we walk-through the “C” change, identify a fork in the road… more