Presenter: Robin Guthridge, Wipfli

This 60-minute program will be presented live on: April 18, 2023 – 10:00-11:00 a.m. CT

Recording available through: July 18, 2023

Price: $275

Virtual currency continues to emerge as a hot button for BSA/OFAC risk. In this session, you will learn how virtual currency operates and its place in the flat currency world. We will provide details on the U.S. banking system’s role in processing these transactions and upcoming regulatory changes that will allow financial institutions to serve as currency exchangers. We will also review how to differentiate investors from exchangers and provide guidance on how to identify these transactions. We will discuss FinCEN and the U.S. Treasury advisories regarding the risk virtual currency transactions could present and explore monitoring protocols and SAR filing responsibilities relating to virtual currency transactions.

Program learning objectives:

• Identify the types of convertible virtual currency and how CVCs are acquired
• Understand points of access and types of CVC wallets utilized
• Evaluate regulatory guidance on CVC red flags for financial institutions

Target Audience: Anyone involved in virtual currency transaction