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CRYPTOCURRENCY

TRAVEL RULE COMPLIANCE

CONFERENCE AND HACKATHON

 

Top blockchain security thought leaders and cryptocurrency platform developers gathered under one roof—November 5th and 6th in San Francisco, CA.

Crypto comes of age

In an effort to combat the growing threat of money laundering and terrorist financing, global regulators have shaken the foundation of the crypto economy with tough new requirements. The FATF and BSA funds “Travel Rules” require exchanges and other virtual asset service providers (VASPs) to securely transmit sender and receiver information with every cryptocurrency transaction. Crypto exchanges and banks urgently need a solution for dealing with this new regulatory reality.

CipherTrace recently sponsored a unique venue where a virtual Who’s Who of virtual asset thought leaders came together to discuss compliance—and to actually formulate solutions. At the cryptocurrency Travel Rule Compliance Conference and Hackathon, they learned from leading legal, compliance, and counter terrorist financing experts. Speakers and panelists included representative of organizations as diverse as the DHS, the US Treasury’s FinCEN, eToro, Binance.US, the Cloud Security Alliance, Zcash, Ethereum Classic, and many more.

Developers also collaborated on projects for sharing sender and receiver information while preserving cryptocurrency user privacy. Top blockchain engineers from CipherTrace were on hand to provide support and judge the results.

Without a near-term solution for compliance, the Travel Rules could literally present existential threats for crypto asset businesses. And enforcement is coming at us like a freight train. Which is why CipherTrace developed TRISA using trusted security building blocks and released it open source, so it could be immediately deployed and extended.

– Dave Jevans, CipherTrace CEO

Travel Rule Information Sharing
Survival of the Fastest

This highly secure solution — the Travel Rule Information Sharing Architecture (TRISA) — is ready to deploy now. Banks, exchanges and other virtual asset service providers (VASPs) can use it to confidentially share sender and receiver information on cryptocurrency transactions. It works at the speed and scale required by exchanges, plus it’s:

 

Open Source

Peer-to-peer

Confidential

Scalable

Reliable

A Who’s Who

of Virtual Asset Thought Leaders

DAVE JEVANS

CEO CipherTrace and
Chairman Anti-Phishing
Working Group

CAROLE HOUSE

Financial Crimes Enforcement Network

LEE BROWN

Department of Homeland Security

NAOMI BROCKWELL

NBTV

DANIEL SANKEY

Global Financial Crimes Officer, Coinbase

ERIN O’LOUGHLIN

Financial Intelligence

NEAL REITER

Vice-President, Platform,
Identity Mind Global

JOSEPH WEINBERG

Founder, Shyft and Paycase

JIM REAVIS

CEO, Cloud Security Alliance

CAROL VAN CLEEF

CEO, Luminous Group and Blockchain and Virtual Currency Lead, Bradley

KATHERINE KIRKPATRICK

Partner, King and Spalding

JUSTIN NEWTON

CEO, Netki

JIM PFLAGING

Founder, Cynergy Partners

GEORGE BURKE

COO, PORTAL

ELIAHU ASSIF

CISO, eToro

JONATHAN DUNSMOOR

Dunsmoor Law

RYAN TAYLOR

CEO, DASH

JACK GAVIGAN

Product & Regulatory Affairs, Zcash

JUSTIN EHRENHOFER

DV Chain & Monero Community Workgroup

JOE CICCOLO

President, BitAML

GINO SOAVE

Global Investigations and Compliance, Navigant

JIM RICHARDS

Founder, RegTech Consulting

JAMIE HINZ

US Risk & Compliance Manager, Binance.US

JASON CIVALLERI

Chief Compliance Officer, MyCrypto

BO ONEY

Coinsource

RICH LEBEL

Director, Transaction Record Analysis Center (TRAC)

MARTA BELCHER

Attorney, Blockchain and Emerging Technologies, Ropes & Gray

ELIZABETH KUKKA

Executive Director, Ethereum Classic Labs

Agenda

Hackathon projects included:

  • Integrating transaction processing and monitoring
  • Integrating with KYC solution
  • Transaction message standards
  • BIP 75 message translation
  • Certificate extensions – to support multikey types
  • Top-level coalition formation and management
  • Selective disclosure of user data
  • Privacy-preserving identity credential attestation
  • Encryption mechanisms to protect PII at rest and in transit
  • Transparency reporting mechanisms for VASPs
  • Extending TRISA to other plug-ins and languages

The Crucible for Crypto Credibility

CipherTrace was pleased to sponsor this event as we are an inflection point in the cryptocurrency space. We feel that the challenge presented by Travel Rule compliance may be just the catalyst that takes cryptocurrency to the next level. It brought people together to discuss finding a workable solution that gets bad actors off of crypto asset platforms while preserving the confidentiality of user data. This is why the conference theme was “Crypto Comes of Age,” because secure, fungible and trusted crypto that is supported by regulators has the potential of creating a multi-trillion-dollar crypto economy.

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