We are on the cusp of a major transition in banking. Interest in digital assets, open banking, and other unique and different financial innovations made possible through blockchain technology are coming to the forefront.
Banks can no longer afford to ignore this opportunity and regulators including the OCC at the federal level and Wyoming at the state level have taken initial steps to provide clarity for financial institutions to leverage this technology.
While regulations have been rolled out, some of the most important questions still remain.
- How does a bank comply with traditional regulatory obligations as it relates to digital assets? What about KYC/AML and IT Security?
- How do you select a custody model that meets regulatory requirements without jeopardizing operational and business objectives?
- What are the standards and best practices for accounting and taxes?
In this 60-min session, we sat down with industry leaders who are shaping the future of digital asset banking to help you better understand:
- Existing guidance from regulators on banking and blockchain/digital assets
- Effective means of understanding and managing expectations of regulators
- Latest developments in bank-grade custody technology, private key security, and transaction monitoring for KYC/AML compliance
- Most widely vetted and implemented custody and compliance solutions by FIs preparing to launch digital asset services this year