Zachary Kelman,
managing partner at Kelman Law
PLLC, joins the show to shed light on the FATF – it's origins
and its current mandate – the travel rule, and what the industry
can expect from these developments. Covered in this episode:
Zach's prior career in bank compliance and how he decided to
focus on Bitcoin
How Zach noticed the blurring of lines between stopping crime
and politics for bank AML
Why overseas payments in the correspondent bank system are
expensive
What the Travel Rule actually means
Why Zach thinks Bitcoin compares favorably with the default
correspondent banking system
Why banks freeze out certain sectors even without a specific
ban or prohibition
How Coins.ph moved the needle for
financial inclusion in the Philippines
The history of the FATF and its original mandate and
intent
Why the FATF's recommendation could possibly bifurcate the
bitcoin market
How the end of the Cold War might have influenced the creation
of the FATF
What Fukuyama's End of History has to do with financial crimes
enforcement
Will the decline of the US-led international order mean
organizations like the FATF will have a reduced ability to police
global finance
Zach's thesis that western Europe might end up being a haven
for the crypto industry
How the FATF recommendations actually get enforced at the local
level
How the FATF black and graylists change bank behavior
Why NYDFS has so much control over global finance
How bank behavior in the US is often more norm based than
couched in law
Why a rise of nationalism could advantage Bitcoin
About the Podcast
Hosts Matt Walsh and Nic Carter of Castle Island Ventures explore news and deals in the public blockchain space and talk to some of the leading experts in the industry. Learn more and stay up to date at CastleIsland.vc and follow on twitter @CastleIslandVC