Cryptocurrency
Navigate Cryptocurrency Compliance with Expert Advisory Services to Safeguard Your Business.
At A7, we specialize in providing tailored compliance solutions for cryptocurrency firms, with a particular focus on New York Trust licensees.
With our extensive experience in the field, we have successfully assisted numerous clients operating in the cryptocurrency space, including those providing fiat-to-crypto onramps and off-ramps, institutional-grade custody services, and innovative blockchain technology services.
Cryptocurrency firms face myriad regulatory and compliance challenges due to the rapidly evolving nature of the industry and the diverse regulatory landscape across jurisdictions.
Key challenges include:
- Lack of Clarity: Regulatory frameworks for cryptocurrency vary widely across jurisdictions, oftentimes leading to ambiguity and uncertainty around compliance obligations.
- BSA/AML/Sanctions Compliance: AML and sanctions compliance are critical for cryptocurrency firms to prevent illicit activities, but implementing robust policies and procedures can be complex and resource-intensive.
- Stringent Application Processes: The process for obtaining licenses is comprehensive and demanding; you need to provide extensive documentation detailing business operations, compliance programs, cybersecurity measures, and more.
Our
Services
We offer a range of review and advisory services, including:
- Implementation of a compliance management system
- Independent reviews of NYDFS Part 504 compliance
- Model validation based on SR 11-7 Model Risk Management and OCC Bulletin 2011-12
- Independent BSA/AML/Sanctions reviews
- Independent Cybersecurity (Part 500, CFPB, FTC) and Privacy reviews
- Risk assessment and monitoring enhancements
- Licensing
- Virtual Currency Licenses, including New York BitLicenses
- New York Limited Purpose Trust Charters
- Money Transmitter Licenses
We recognize that every cryptocurrency firm faces its own set of regulatory hurdles and operational complexities. We work closely with our clients, employing a risk-based approach and fostering collaboration to develop compliance strategies that align with their specific goals and business objectives.
A7 knows that crypto innovators face unique compliance challenges. We are your trusted partner to provide tailored support for navigating the complex regulatory landscape.