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.
Minute-by-minute episode breakdown
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
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