Discussing sanctions breach regulations

December 9, 2022

Pawel Kuskowski, Carol Van Cleef and Amber Scott discuss sanctions breach regulations in light of Kraken violating US sanctions against Iran. They give their views on how the impact of self-disclosure and having a compliance program can potentially reduce the fine given to an entity as well as the complexities of tackling geolocation issues. Carol also tackles the accuracy of FTX media coverage and starts a discussion on the processes banks who hold cryptocurrency assets are putting in place in response to the FTX fallout including proof of reserve disclosure.

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