Crypto Compliance
Compliance requirements specific to cryptocurrency and digital asset businesses.
Crypto Compliance
Cryptocurrency and digital asset businesses face unique compliance challenges. PartnerAlly helps you manage these requirements alongside traditional compliance frameworks.
Crypto compliance requirements vary significantly by jurisdiction. Always consult with legal and compliance professionals for your specific situation.
Crypto-Specific Challenges
Why Crypto is Different
Digital asset businesses face:
- Rapidly evolving regulations
- Cross-border transaction complexity
- Pseudonymous transaction parties
- Real-time monitoring requirements
- Novel technology considerations
- Varying global standards
Regulatory Landscape
Key regulatory areas:
- Anti-Money Laundering (AML)
- Know Your Customer (KYC)
- Travel Rule compliance
- Sanctions screening
- Licensing requirements
- Consumer protection
Supported Frameworks
AML/BSA Framework
PartnerAlly covers AML requirements:
- Customer identification programs
- Transaction monitoring
- Suspicious activity reporting
- Record keeping
- Compliance officer requirements
- Training programs
Travel Rule
Specific support for Travel Rule:
- Understanding requirements
- Implementation guidance
- Gap identification
- Evidence collection
Learn more: Travel Rule
Wallet Screening
Address and wallet verification:
- Sanctions screening requirements
- Risk assessment needs
- Monitoring approaches
- Documentation standards
Learn more: Wallet Screening
How PartnerAlly Helps
Gap Identification
AI identifies crypto-specific gaps:
- Missing Travel Rule procedures
- Incomplete wallet screening
- Transaction monitoring gaps
- KYC weaknesses
- Record retention issues
Framework Mapping
Map crypto requirements to controls:
- Which policies address requirements
- Where gaps exist
- How controls overlap
- What evidence is needed
Workflow Generation
Create remediation workflows for:
- Implementing Travel Rule
- Setting up wallet screening
- Building transaction monitoring
- Developing KYC programs
Key Crypto Compliance Areas
Customer Due Diligence (CDD)
Requirements for knowing customers:
- Identity verification
- Risk assessment
- Ongoing monitoring
- Enhanced due diligence triggers
Transaction Monitoring
Watching for suspicious activity:
- Real-time monitoring needs
- Threshold-based alerts
- Pattern recognition
- Investigation procedures
Suspicious Activity Reporting
Reporting obligations:
- SAR filing requirements
- Timing requirements
- Documentation needs
- Internal escalation
Record Keeping
Retention requirements:
- Transaction records
- Customer information
- Communications
- SAR records
Working with Crypto Frameworks
Enabling Crypto Frameworks
Go to Framework Settings
Navigate to Settings > Frameworks.
Enable AML/BSA
Toggle on the AML/BSA framework.
Configure Options
Select relevant sub-requirements.
Re-analyze Documents
Analyze existing documents against new framework.
Document Analysis
Upload crypto-specific documents:
- AML/BSA policies
- KYC procedures
- Transaction monitoring rules
- Travel Rule implementations
- Wallet screening procedures
Gap Review
Focus on crypto gaps:
- Filter by AML/BSA framework
- Review Travel Rule gaps
- Address wallet screening findings
- Prioritize high-severity items
Risk Considerations
Unique Crypto Risks
PartnerAlly tracks crypto-specific risks:
| Risk | Description |
|---|---|
| Regulatory uncertainty | Changing requirements |
| Cross-border complexity | Multiple jurisdictions |
| Technology risks | Blockchain-specific issues |
| Counterparty risks | Pseudonymous parties |
| Sanctions exposure | Blacklisted addresses |
Risk Prioritization
AI prioritizes considering:
- Severity of potential violations
- Likelihood of occurrence
- Business impact
- Remediation effort
Integration with Traditional Compliance
Framework Overlap
Crypto and traditional compliance overlap:
- SOC 2 security controls
- Data protection requirements
- Access controls
- Audit trails
Combined Approach
Benefits of unified management:
- See all gaps in one place
- Identify overlapping controls
- Reduce duplicate work
- Comprehensive reporting
Staying Current
Regulatory Changes
Crypto regulations change frequently:
- Monitor regulatory guidance
- Update frameworks when needed
- Re-assess gaps regularly
- Adjust controls accordingly
PartnerAlly Updates
We maintain current frameworks:
- Framework updates released
- New requirements added
- Control mappings updated
- You're notified of changes
Best Practices
For Crypto Compliance
-
Start with fundamentals
- AML program basics
- KYC procedures
- Transaction monitoring
-
Address high-risk areas first
- Sanctions screening
- High-value transactions
- New customer onboarding
-
Document everything
- Policies and procedures
- Decision rationale
- Testing and validation
-
Stay flexible
- Regulations will change
- Build adaptable processes
- Monitor for updates
Common Questions
Does PartnerAlly provide real-time transaction monitoring?
No. PartnerAlly helps manage compliance programs and documentation, not real-time transaction monitoring. Integrate with specialized tools for that.
What jurisdictions are covered?
PartnerAlly covers major frameworks including US AML/BSA and FATF Travel Rule. Jurisdiction-specific requirements may need additional consideration.
Can I track multiple crypto licenses?
Yes. Use organization settings and custom controls to track license-specific requirements.
How do I stay updated on crypto regulations?
Use Compliance Intelligence features to track regulatory changes. Also subscribe to relevant regulatory updates directly.
Learn More
- Travel Rule - Travel Rule requirements
- Wallet Screening - Address screening
- Risk Registry - Managing crypto risks
- Compliance Intelligence - Tracking regulatory changes