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RE: ICO Spotlight | Coinfirm AMLT Token - Cryptocurrency Market Sheriff
Useful information. Resteemed. IMHO, I think that the companies that want to succeed in the long term will have to partner with legitimate regulatory organizations. But there also has to be some sort of standards and accreditation requirements for the regulatory AML/CTF bodies. What governments' regulators will be able to issue the accreditation? Is there going to be a global regulator that approves and licenses these AML/CTF "startups"?
We just had this conversation with some regulators, heads of compliance and financial institutions. Generally the standards and innovation come from the bottom up and not top down. So companies like us provide the financial institutions a solution and standard, the institutions then takes that standard to the regulators, then the regulators are influenced to implement that standard. We cant say who yet but we're in the middle of implementing our platform as the standard in multiple financial institutions for them to start accepting cryptocurrency clients etc. This is how we've approached bringing cryptocurrency into the mainstream and our vision over the past year and a half has been on point so far :)
I think Coinfirm is building a global standard and will be the issuing regulatory body. No need for a regulatory agency. Still...you have to wonder what Coinfirm can't do that these huge gov regulatory agencies can do by being centralized and have a dedicated budget.