I testified on China's development of CIPS & eCNY for a 9/20 U.S. House Committee on Financial Services subcmte on NSIDMP hearing “Under the Radar: Alternative Payment Systems & the National Security Impacts of Their Growth.' Text: bit.ly/3xHPu7e Watch feed here: bit.ly/3BrZUsO or here 📺: 1/14

Congrats to Emily Jin on her testimony today re: China's efforts to build alternative financial rails and how the US can avoid this becoming a long-term threat to US economic statecraft.

cnas.org/publications/c…

Despite clarification, some experts say that Washington's sanctioning of a crypto mixer raises unanswered questions.

'I think many innocent crypto-holders impacted by the Tornado Cash designation will not be satisfied by the FAQ,' Yaya J. Fanusie told NK Pro.
nknews.org/pro/us-faces-b…

New on Chatter: David Priess talks to former CIA officer Ric Prado about paramilitary intelligence operations, Hollywood’s inaccurate portrayals of that work, why his book has big chunks of redacted text, and who he thinks played the best James Bond. podcasts.apple.com/us/podcast/cha…

#ConvergeSF22 Session Alert!

Don’t miss Roger Caruth JD,Ph.D, Asst. Professor Howard University, and Yaya J. Fanusie (@SignCurve), Fellow & Crypto/AML expert @cnasdc, as they tackle Catalyzing Digital Financial Literacy, part of our Innovation track.

🎟️ Tickets: hubs.li/Q01l-nGC0

Ian Talley for the WallStreetJournal on TRM Labs investigation into the first use of NFTs by ISIS. Great insights by Mario Cosby and Yaya J. Fanusie.
Full article: wsj.com/articles/islam…

I'll end with humor. Since I saw this yesterday, I've been trying to figure out a good interpretation. Maybe the dad is US regulators, the kids are the crypto space, and the candies are the gains from illicit crypto. Don't touch it while dad fixes the BSA twitter.com/PubityIG/statu…

I'll end with humor. Since I saw this yesterday, I've been trying to figure out a good interpretation. Maybe the dad is US regulators, the kids are the crypto space, and the candies are the gains from illicit crypto. Don't touch it while dad fixes the BSA twitter.com/PubityIG/statu…

As for the notion of 'code is speech.' Well, yes. But aren't most crypto advocates also arguing that code is value. Are they at the same time arguing that the government should place no restriction on the transaction of value? That's a radical notion.

And the Bank Secrecy Act with all its inefficiencies is not fit for long term digital asset innovation. I'm concerned that some of the crypto players are focused on trying to double down on an approach they know won't work. As for the govt, well, regulators aren't good innovators

The missing piece is this: Until solutions are developed (and implemented widely) that offer a reasonable privacy & AML compliance compromise, neither side will be happy. Mixers as they are today are not a good long-term solution for wide scale crypto privacy.

...without building sanctions screening into the code. So as I hear of pushback from some elements in the space dismissing the applicability of sanctions due to the complications it brings (and the inevitable questions it raises), I feel like they're not giving the whole picture

Flash forward to 2019. In my consulting work, I was helping the team at a high-profile attempted stablecoin project map out its compliance strategy. Reflecting on all the regulatory discussions the previous years, it was clear: U can't build a massively scalable stablecoin...