Joe Ciccolo of Bitaml.com offers world-class compliance services to bitcoin companies. BitAML AML (Anti-Money Laundering) and KYC (Know your Customer) are both important components of setting up a legal business that works with cryptocurrency.
Whether you’re a potential money transmitter, or if you have an asset token, or are involved with cryptocurrency exchange, purchase, sale, or even seemingly non-monetary asset tokens or color coins, you need to be aware of potential AML / KYC requirements.
Joe talks about how various regulations from various governing bodies such as the SEC, the IRS, FINRA, and other areas may have a direct or indirect interest in your company. A solid KYC / AML compliance program is also a must when acquiring a company as defines the legal grounds, upon which the company operates, and your potential liability in taking on an existing company.