Cryptocurrencies and the blockchain represent a new frontier — one that’s wrought with regulatory and fraud challenges. New coin offerings pop up all the time, each decentralized and shrouded in risk. How do you safely transact with a form of currency that people struggle even to define?
Coinbase is trying to do just that. The digital currency exchange company is out to make currencies like bitcoin more accessible. They recruited Daniel Sankey to help cut down on the risk of using digital currency. Daniel is the BSA Compliance Officer at Coinbase, responsible for ensuring the company’s compliance with the Bank Secrecy Act. He’s at the forefront of the regulatory debate surrounding cryptocurrency.
Are fraudsters taking advantage of the decentralized nature of cryptocurrency to commit fraud? What methods are businesses using to fight cryptocurrency fraud? We chat with Daniel to find out.