The Digital Chamber
Evan AbramsSupportAdvocacy
Summary: The Digital Chamber, a trade association representing the digital asset and blockchain industry, expresses strong support for the Agencies' goals to modernize the Bank Secrecy Act by focusing on AML/CFT effectiveness rather than "check-the-box" compliance. They provide specific recommendations to clarify "effectiveness" standards, refine risk assessment requirements, and ensure that examiners are properly trained to evaluate novel technologies like AI and blockchain.
Please see attached for a letter from Steptoe LLP submitted on behalf of our client The Digital Chamber.