Introduction to Blockchain and Cryptocurrencies

September 9 2020 18:00 - 19:00 UTC

This seminar will introduce the nuts and bolts of blockchain and cryptocurrencies. Once thought to be a passing internet fad, cryptocurrencies have proven their longevity and utility over the course of a decade. In 2019, FinCEN released an Advisory requiring all financial institutions—including banks—to monitor virtual currency-related transactions of their customers and file SARs for suspicious transfers that may involve virtual currency related payments. Then, in July 2020, the OCC published an interpretive letter stating banks can now hold cryptocurrency assets for their customers. These regulatory changes make it vital that banks understand this financial technology.

Attendees will learn about the rise of bitcoin and other tokens based on blockchain and explore the ways that cryptocurrencies are used (and sometimes abused) by their adopters.

Attendees will also explore legislation that impacts cryptocurrency transfers from a banking perspective, including the FATF and FinCEN Travel Rules and the US Bank Secrecy Act.
Session highlights:

  • Understand blockchain and cryptocurrency technology
  • Gain an understanding of different types of cryptocurrencies
  • Explore use cases for cryptocurrencies
  • Understand applicable legislation and the relationship between cryptocurrency and traditional (fiat) currency
  • Learn about traceability of cryptocurrency transactions and their impact on related investigations

**Who should attend: **
Chief Executive Officers, Chief Operations Officers, Chief Risk Officers, Chief Compliance/BSA Officers, Risk Management Officers, Compliance Officers, BSA Specialists, BSA/AML Analysts, Financial Investigators, Fraud Prevention Units

CPE Information:
• Prerequisites: N/A  • Advanced Preparations: N/A  
• Course Level: Basic • Group Internet Based Training

CBANC Network is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

  • cryptocurrencies
  • SAR
    • FinCEN
    • Payments
    • Risk
    • Blockchain
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