FinCEN recently announced a Notice of Proposed Rulemaking (NPR) regarding “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets”. While the comment period ended on January 4th, this proposal gives us some insight into what FinCEN is thinking with regard to the compliance complexities and challenges presented by virtual currency and digital assets. This is an emerging and continually evolving area that financial institutions need to spend some time and effort.
Listen to Deb explain more about what this NPR entails.
This is just a proposal. Stay tuned!
Find more BSA Resources here – https://www.bankerscompliance.com/regulations-we-cover/the-bank-secrecy-act-bsa/
Deb joined Banker’s Compliance Consulting with twenty years of experience in the banking industry. Her past positions include teller, credit review analyst, assistant financial officer, BSA Officer, Compliance Officer, and Director of Compliance. She has worked for both a small community bank and a large billion-dollar bank.
Deb has Associate Degrees in Business Management and Accounting. She is a graduate of the American Bankers Association National Graduate School of Compliance Management, an honors graduate of Schools of Banking Compliance School, and a graduate of Schools of Banking Advanced School of Banking. Deb’s considerable knowledge and experience make her a valuable member of the Banker’s Compliance Consulting Team. Deb is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti Money-Laundering Specialist (CAMS).
Deb loves to spend her free time cycling, running, kayaking and weight lifting with her husband. Between them, they have three adult children and six grandchildren. Other interests include anything outdoors and anything she hasn’t done or seen yet!