- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-04-04T14:58:00
In the “Wild West” of cryptocurrency, chief compliance officers have become a valuable commodity.
Crypto firms combating the enhanced regulatory scrutiny of the last year can lean on the legitimacy offered by an established and empowered CCO. Investigators are looking toward the compliance policies and procedures of these companies and ensuring their practices meet all relevant requirements. To do so could mean removing the target on one’s back.
But the reverse is equally true: A crypto firm with a CCO found to not be handling the responsibilities of their role seriously might face additional regulatory pressure. Such a situation is currently playing out at Binance, the world’s largest crypto exchange, following charges levied by the Commodity Futures Trading Commission (CFTC) last week.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
There are a slew of compliance lessons to be learned from the $4.3 billion settlement that Binance, the world’s largest cryptocurrency exchange, reached with the U.S. government.
Federal agencies hit Binance with more than $4.3 billion in penalties and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering laws, sanctions, and other regulations.
The Enforcement Division of the Commodity Futures Trading Commission announced it established two new task forces to combat cyberattacks and misuse of technology and environmental fraud.
The biggest Compliance Fails of 2024 show the real-world consequences of noncompliance for the companies that faltered, but also for their customers and their employees.
Former U.S. Deputy Attorney General Larry D. Thompson participated in landmark legal cases, such as the Justice Department’s Enron investigation and the Volkswagen Independent Compliance Monitorship. Now his memoir looks back on his extensive career in compliance, offering profound insights into corporate culture, diversity, ethics, and integrity.
New Compliance Week Editor-In-Chief Ian Sherr shares his thoughts on where compliance is headed as businesses meet the realities of not just following the rules, but staying ahead of the pace of regulatory change at a global scale.
