Exploring Challenges of Travel Rule Compliance in Cryptocurrency Transactions

From the Bitlicense to OFAC Sanctions, Ian Andrews (CMO, Chainalysis) and guest Valerie-Leila Jaber (Global Head of Anti-Money Laundering, Coinbase) cover it all on this episode of Public Key.

Valerie-Leila highlights the importance of compliance in the crypto industry and the impact of regulations, such as the Patriot Act, when it first came out and how they parallel the current regulatory landscape in crypto. 

She provides insights into Coinbase's focus on setting global minimum standards and their involvement in initiatives like TRUST for Travel Rule compliance, BASE their layer 2 blockchain and their new wallet releases.

Valerie also touches on the topics of sanctions, Coinbase's noncustodial wallet, and the company's role as custodian in the Bitcoin spot ETFs.

2 | Valerie's interest in crypto and experience in traditional finance 

4 | Technology shifts and challenges in implementing AML regulations

7 | The variation in Crypto AML regulations across different countries

9 | Coinbase's involvement in the TRUST initiative and BASE, its Layer 2 blockchain  

12 | The usefulness of receiving crypto addresses from OFAC for compliance purposes 

15 | Discussion on the Coinbase Wallet and its position within the AML department  

18 | The challenges and benefits of multiple state-level regulatory frameworks for crypto

20 | The role of Coinbase's compliance program in being selected as a custodian for many  ETFs 

22 | Excitement for the year ahead in terms of legislation, market buoyancy, and international developments

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website: Coinbase is the safest place to buy, sell, and manage crypto.
• Blog: Coinbase obtains registration as a Restricted Dealer in Canada
• Blog: Evolving wallets to bring a billion users onchain
• Blog:  Momentous approvals: spot ETFs to usher in bitcoin’s next chapter and diversified long-term growth
• Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
• Blog: OFAC and Department of State Sanction Nearly 300 Individuals and Entities Involved in Russia’s War Machine, One Known to Have Accepted Crypto
• YouTube: Chainalysis YouTube page
• Twitter: Chainalysis Twitter: Building trust in blockchain
• Tik Tok: Building trust in #blockchains among people, businesses, and governments.
• Telegram: Chainalysis on Telegram

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
• Valerie-Leila Jaber (Global Head of Anti-Money Laundering, Coinbase)

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.