Circle joins IVAN board – Intelligence Community News

On October 2, Circle announced it will hold an inaugural three-year seat on the board of directors of the new Illicit Virtual Asset Network. The group, known as IVAN, brings together governments, law enforcement agencies and industry partners from around the world to identify and counter emerging threats or impending criminal activity in real time. Circle – the issuer of USDC, the largest regulated US dollar stablecoin in circulation worldwide – will help determine the strategic direction of IVAN as a key tool in the fight against transnational illicit finance. As one of three industry representatives on the IVAN board, Circle will play a voting role in setting priorities and membership decisions.

“Circle’s partnership with IVAN and leadership role on the group’s board underlines our company’s fundamental commitment to combating illicit financing as a compliant, regulated financial institution,” said Mandeep Walia, Circle’s Chief Compliance and Risk Officer. “We appreciate the opportunity to help drive the conversation about how regulated companies that meet global standards to combat illicit finance can serve as the strongest deterrent to financial crime in the first place.”

Erik Rosenblatt, a senior leader at Circle, will represent Circle on the IVAN board. Prior to joining Circle, Rosenblatt spent more than 20 years in senior positions as a Special Agent in the U.S. Department of Homeland Security and the U.S. Treasury Department, specializing in combating fraud, money laundering, terrorist financing and other forms of fraud. cross-border crime.

Since its founding in 2013, Circle has made significant investments in people, processes and technologies to build a dynamic US-based company that complies with global regulations while staying ahead of illicit financial actors. Circle recognizes that for global, mainstream adoption of digital assets and blockchains, anti-money laundering and counter-terrorist financing (AML/CFT) compliance is essential to protect customers and systems from criminal activity, as well as is the case with traditional practices. financial systems.

Not only has Circle implemented the same financial crime compliance controls and investments expected at other regulated financial institutions, but the company has also leveraged new technologies to leverage the unique features of blockchains to better track illicit financing and to trace and ultimately deter. According to the company, this has resulted in stronger defenses against illegal activities.

Source: Circle

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