Unhosted Wallets and the Future of Cryptocurrency Regulation
TRM Talks with Celo's Jai Ramaswamy, former DOJ Money Laundering Chief and Michael Mosier, Deputy Director of FinCEN
Streaming here on:
Monday, February 1st 2021 03:00pm ET / 12:00pm PT
The concerns swirling around unhosted or self-hosted wallets and FinCEN's recent notice of proposed rulemaking (NPRM) on the topic have captivated and consumed the cryptocurrency industry and regulators around the world. Unhosted wallets provoke questions of privacy and security at the heart of the promise of cryptocurrency. TRM Talks with Former DOJ Money Laundering Chief and Current Celo Compliance head Jai Ramaswamy, author of How I Learned to Stop Worrying and Love Unhosted Wallets, and FinCEN Deputy Director Michael Mosier on unhosted wallets and the challenges of threading the needle between privacy and financial integrity in crypto regulation.
Deputy Director of FinCEN
Michael Mosier is Deputy Director & Digital Innovation Officer of the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department. As Deputy Director, he oversees FinCEN’s wide-ranging work to promote financial integrity and national security. As Digital Innovation Officer, he is dedicated to advancing FinCEN’s engagement with emerging technology and financial innovation. Mr. Mosier, formerly Chief Technical Counsel at Chainalysis, previously worked at FinCEN as Chief of Strategic Advancement and served as Associate Director at Treasury’s Office of Foreign Assets Control (OFAC), where he led the Office of Sanctions Policy & Implementation and Office of Compliance & Enforcement. Before joining Treasury, Mr. Mosier was Deputy Chief in the Department of Justice’s Money Laundering & Asset Recovery Section. He also served a tour at the White House National Security Council as Director for Transnational Organized Crime. Mr. Mosier began his public service as a prosecutor with the Manhattan District Attorney’s Office, and has served as an adjunct law professor at Georgetown University Law Center. He previously worked at a law firm representing technology, media, and financial services clients.
Former DOJ Money Laundering Chief and Celo Head of Compliance
Jai Ramaswamy leads risk, regulatory and compliance matters at cLabs, working on Celo, an open source distributed ledger protocol designed to support the global development of financial tools for those on the margins of the financial system. Before joining cLabs, Jai was the Head of Enterprise Risk Management at Capital One and the Global Head of Anti-Money Laundering Compliance Risk Management at Bank of America/Merrill Lynch. Before joining the private sector, Jai served for over a decade with the Department of Justice in several roles, including the Chief of the Asset Forfeiture and Money Laundering Section, a prosecutor with the Computer Crime and Intellectual Property Section, and an Assistant United States Attorney for the Southern District of New York. Jai is a graduate of Harvard University with a law degree from the University of Pennsylvania and a doctorate from Cambridge University.
Head of Legal and Government Affairs at TRM Labs
Ari Redbord is Head of Legal and Government Affairs at TRM Labs, a blockchain analytics company that helps organizations detect, assess and investigate crypto-related fraud and financial crime. Prior to his role at TRM, Ari was the Senior Advisor to the Deputy Secretary and the Undersecretary for Terrorism and Financial Intelligence at the United States Treasury. In that position, he worked with teams from the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and other Treasury components to deploy sanctions and other regulatory tools against threat actors, including terrorist financiers, weapons of mass destruction proliferators, drug kingpins, and other rogue actors, including Iran, Syria, North Korea and Venezuela. In addition, Ari worked closely with regulators, the Hill and the interagency on issues related to the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies.
Prior to Treasury, Ari was an Assistant United States Attorney for the District of Columbia for eleven years where he investigated and prosecuted terrorism, espionage, threat finance, cryptocurrency, export control, child exploitation and human trafficking cases.