Supervision and Enforcement of Blockchain Based Financial Institutions

Thursday, November 18th, 2021
7:00 PM - 8:00 PM

Add to Calendar: Add to Calendar: 2021-11-18 19:00:00 2021-11-18 20:00:00 Supervision and Enforcement of Blockchain Based Financial Institutions Event Description Blockchain based financial institutions including cryptocurrency exchanges, state-chartered trust companies, and certain banks face significant scrutiny from U.S. regulators. This presentation reviews the regulatory obligations of these firms and highlights specific focus areas for U.S. enforcement. Speaker Bio: Braddock Stevenson is currently AML and payments counsel for O’Melveny & Myers, after more than a decade at the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), most recently serving as deputy associate director of FinCEN’s Enforcement Division. Mr. Stevenson advises financial institutions and fintech companies on anti-money laundering and Bank Secrecy Act (BSA) compliance to help them navigate investigations and enforcement matters. While at FinCEN, Mr. Stevenson oversaw BSA compliance and enforcement for all U.S. financial institutions including banks, virtual currency exchanges, broker-dealers, money transmitters, casinos and jewelry dealers. Mr. Stevenson led multiple investigations into a broad range of financial institutions and served as the lead negotiator in resolving BSA matters. His work included developing the Department of the Treasury’s BSA supervision strategy for all U.S. financial institutions and advising both private sector and government officials on compliance matters. His responsibilities also included investigating and drafting USA PATRIOT ACT section 311 actions and representing FinCEN in intra-agency task forces. Mr. Stevenson spent four years stationed in the New York High Intensity Financial Crimes Area advising law enforcement on money laundering investigations. He worked extensively on developing BSA policy for traditional and emerging payment systems including SWIFT, ACH, Fedwire, CHIPs, mobile payments, prepaid cards and virtual currency platforms. This event was organized by Cathy Lesser Mansfield, director of MAFI, Cleveland Cohort. CLE Reading Materials Virtual only School of Law School of Law America/New_York public

1.0 ACAMS CE is available

Webcast Archive Content

Video: Supervision and Enforcement of Blockchain Based Financial Institutions

Event Description

Blockchain based financial institutions including cryptocurrency exchanges, state-chartered trust companies, and certain banks face significant scrutiny from U.S. regulators. This presentation reviews the regulatory obligations of these firms and highlights specific focus areas for U.S. enforcement.

Speaker Bio:

Braddock Stevenson is currently AML and payments counsel for O’Melveny & Myers, after more than a decade at the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), most recently serving as deputy associate director of FinCEN’s Enforcement Division. Mr. Stevenson advises financial institutions and fintech companies on anti-money laundering and Bank Secrecy Act (BSA) compliance to help them navigate investigations and enforcement matters.

While at FinCEN, Mr. Stevenson oversaw BSA compliance and enforcement for all U.S. financial institutions including banks, virtual currency exchanges, broker-dealers, money transmitters, casinos and jewelry dealers. Mr. Stevenson led multiple investigations into a broad range of financial institutions and served as the lead negotiator in resolving BSA matters. His work included developing the Department of the Treasury’s BSA supervision strategy for all U.S. financial institutions and advising both private sector and government officials on compliance matters. His responsibilities also included investigating and drafting USA PATRIOT ACT section 311 actions and representing FinCEN in intra-agency task forces.

Mr. Stevenson spent four years stationed in the New York High Intensity Financial Crimes Area advising law enforcement on money laundering investigations. He worked extensively on developing BSA policy for traditional and emerging payment systems including SWIFT, ACH, Fedwire, CHIPs, mobile payments, prepaid cards and virtual currency platforms.

This event was organized by Cathy Lesser Mansfield, director of MAFI, Cleveland Cohort.

Event Location

Virtual only

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