Thursday, May 28, 2020

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Emerging Issues in Sanctions, AML and Everything in Between in the Time of COVID-19: 2020 AML & Sanctions Risk Considerations for Digital Assets Companies

May 19, 2020 @ 9:30 am – 10:30 am
Crowell & Moring

For Crowell & Moring LLP’s next event in our series “Emerging Issues in Sanctions, AML, and Everything in Between in the Time of COVID-19,” our Global Head of Blockchain & Digital Assets, Michelle Gitlitz, will moderate a discussion on the AML & Sanctions risks that digital assets companies are currently grappling with. Topics will include:

How Do AML and Sanctions Laws Apply to Digital Assets? What are the Key Regulatory Risks?

  • What kinds of digital assets businesses are subject to AML regulation?
  • What kind of AML obligations do regulated entities have?
  • How do sanctions apply to digital assets transactions, assets, and wallets?
  • What sanctions obligations do digital assets businesses have?

Potential Areas for AML and Sanctions Enforcement for Digital Assets in 2020

  • Unregistered money transmitter
  • Inadequate AML programs and failure to file SARs
  • The Funds Transfer and Travel Rules
  • OFAC’s interest in digital assets companies
  • Expert advice on virtual currency to sanctioned parties

The potential Impact of COVID-19

  • Is there an increase in the use of cryptocurrency by sanctioned persons, money launderers and fraudsters during COVID-19?
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