Training Financial Services Staff to Prepare for Expected Crypto Regulatory Changes
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The Trump administration has taken steps to make cryptocurrency a more accepted form of payment. Banks and other financial services organizations must stay up to date on any crypto regulatory changes, understand their exposure because of these changes, and mitigate any risks associated with them. By keeping up with crypto regulations, businesses can adjust their offerings to better serve their customers and develop best practices to mitigate fraud and other security concerns.
In this article, BAI explains the steps financial services organizations must take to safely offer crypto products and services to their customers without overextending themselves. Key topics include:
- Monitoring federal and state requirements
- Develop risk assessments
- Establish clear policies and procedures
- Train staff on regulatory requirements and applicable risk controls
To see how your organization can properly develop cryptocurrency strategies, download BAI’s article: "Training Financial Services Staff to Prepare for Expected Crypto Regulatory Changes" today!