Evolution of Compliance and Innovation in the Crypto Sector

“I think what's interesting is there is a lot of regulation in the US. It's just not cohesive and specific to this space except for places like New York and soon to be California, Louisiana.” - Thom Hook 

In this episode, Ian Andrews (CMO, Chainalysis) guest Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay) summed up in one sentence what the crypto regulatory framework is like in the USA and how its impacting crypto businesses and innovation as a whole.

Thom goes on to discuss his experience working at Circle during the early days of crypto and the challenges of building a compliance program in a rapidly evolving industry.

He provides insights into MoonPay's unique business model, which focuses on retail on and off-ramp services for cryptocurrencies and NFTs and their role as a noncustodial platform.

He  also touches on topics such as banking relationships, regulatory frameworks, pig butchering and other scams in the industry and the new demand for crypto lawyers in the face of increasing regulatory pressure.

2 | Thom’s story of building compliance programs from Joining Circle in 2014, transitioning to Bitstamp to landing at MoonPay

4 | MoonPay’s business model of not being a crypto exchange and making it easier for innovation to have payment rails 

7 | Importance of compliance and transaction monitoring in obtaining and maintaining  banking relationships

12 |Differences in regulations between the US and other countries 

15 | Importance of reputation and risk assessment for partner selection and key

17 | Key takeaways from the conference panel discussion with other compliance experts 

19 | Using education to combat pig butchering scams and the impact of sanctions 

22 | Teaching a class on crypto regulation and its focus on regulations that have the most impact

25 | Prediction of increased demand for crypto lawyers due to regulatory pressure and excitement for innovation and growth in the crypto industry in 2024

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

• Website: MoonPay: Your gateway to Web3 - Experience the best of Web3 using MoonPay
• Blog: We’re live in Louisiana! MoonPay is back in business in the Bayou State
• Article: Crypto lawyers to be in demand as regulatory pressure reaches boiling point
• Blog:  Crypto On-Ramp: Boost your revenue with the world's #1 crypto on-ramp
• Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
• Blog: Crypto Staking Overview: How It Works, Benefits, Risks, and Future
• 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) 
• Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay)

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