Supervision and Enforcement of Blockchain Based Financial Institutions
Thursday, November 18th, 2021 7:00 PM - 8:00 PM
Master of Arts in Financial Integrity
1.0 ACAMS CE is available
Webcast Archive Content
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.
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.