CRYPTOCURRENCY
TRAVEL RULEIn October 2018, the Financial Action Task Force (FATF), the... More COMPLIANCE
CONFERENCE AND HACKATHON
Top blockchainA blockchain is a shared digital ledger, or a continually up... More security thought leaders and cryptocurrencyA cryptocurrency (or crypto currency) is a digital asset des... More 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 FATFThe Financial Action Task Force (FATF) is a global money lau... More and BSA funds “Travel Rules” require exchanges and other virtual assetThe term "virtual asset" refers to any digital representatio... More 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, ZcashZcash is a decentralized and open-source cryptocurrency deve... More, 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
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
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.