Rahman Ravelli Hosted an International Crypto Regulation Event

An international webinar to examine all aspects of crypto-related regulation was organised by Rahman Ravelli.

The event, entitled “Crypto Regulation Demystified: Navigating the Risks of Non-Compliance’’, took place at 1.30pm BST Wednesday, 29 March.

It was of interest to organisations and individuals who are involved with, or have an interest in, crypto, including:

• Cryptocurrency exchanges
• Decentralised exchanges
• Blockchain-based organisations
• Wallet service providers
• General counsel
• Compliance officers
• Lending platforms
• Digital assets data providers

Just two months ago, Coinbase - a publicly traded entity and one of the largest exchanges in the world - was fined $100 million by New York’s Department of Financial Services for “wide-ranging and long standing failures” in its anti-money laundering and know your customer procedures. It was a case that underlined the increasing significance of compliance and regulation in the crypto asset world.

With this in mind, the event’s panellists analysed and discussed a range of crypto-related regulation issues. These included:

• Activity and statements in recent months involving the UK’s Financial Conduct Authority (FCA), the United States’ Securities and Exchange Commission (SEC) and Dubai’s Virtual Assets Regulatory Authority (VARA).
• The implications of not complying with regulation in different parts of the world.
• The implementation of regulation and its effects in terms of governance, infrastructure and risk levels.
• Obligations on custodian services.
• Sanctions compliance.
• Balancing regulation with the need for innovation

The international panellists were:

• Syed Rahman. Partner at Rahman Ravelli and internationally-recognised crypto assets specialist.
• Howard A Fischer. Partner at US-based Moses & Singer and a former SEC Senior Trial Counsel.
• Bushra Ahmed. Partner at Dubai-based KBH, barrister and arbitrator.

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