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Impact of the AML Provisions in the GENIUS Act

SKU: COM4800
General Credits
1
Price$50
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Description

The passage of the GENIUS Act has opened the floodgates for stablecoins. Dozens of new issuers (if not more) are expected to enter the market in the coming months, and the total volume outstanding continues to increase at a rapid pace.

As regulators begin to write the rules for these new stablecoin issuers, one of the key areas to watch is anti-money laundering (AML) compliance. Responsible market participants will be looking for the development of reasonable, risk-based standards that require issuers to prudently control financial crime risk, while not being so onerous that the river of innovation is completely dammed. This CLE will provide guidance on how to navigate these evolving regulatory requirements effectively.

Lecturer Bios

Matthew Bisanz, Esq.

Matthew Bisanz is a partner in Mayer Brown’s Financial Services Regulatory & Enforcement practice. Matt advises financial institutions on core bank regulatory issues and adjacent subject matter domains. Matt is knowledgeable in all major aspects of the operations of an insured depository institution, its affiliates, and its partners—including chartering, acquisition, and permissibility analyses; ongoing risk management, governance, and compliance requirements; and insolvency and resolution issues. He also advises clients on Dodd-Frank Act compliance issues, including the Volcker Rule, capital and liquidity requirements, Reg YY enhanced prudential standards, and Title VII compliance.

Further, his practice extends to the other regulatory and risk management needs of the firm’s financial institution clients through counseling on regulatory inventories and change management, cybersecurity and data privacy concerns, and anti-money laundering compliance. Matt currently serves as the vice-chair of the American Bar Association’s subcommittee on banking legislation and regulation.

Prior to joining the Washington DC office of Mayer Brown in 2013, Matt worked at the SEC, CFTC, DOJ, and FDIC in various regulatory and investigative roles and at a Big Four accounting firm in New York. He also is a certified public accountant and teaches accounting at the University of Maryland Global Campus.

Brad Resnikoff

Brad Resnikoff advises U.S. and non-U.S. financial institutions on complex regulatory, enforcement, and strategic matters. He is regularly engaged by global financial institutions to represent them in high-stakes, multijurisdictional civil, criminal, and regulatory enforcement proceedings involving anti-money laundering compliance, tax-related offenses, U.S. economic sanctions, and anti-corruption issues. Brad also counsels clients on investigation strategy and leads internal investigations to assess allegations of misconduct, manage risk, and develop effective legal and regulatory responses involving government regulators, law enforcement agencies, Congressional investigators, and partner institutions.

Clients value Brad’s deep command of financial crimes laws and regulations, as well as his ability to navigate the legal and operational challenges inherent in cross-border matters, including data privacy and privilege considerations. He has developed particular expertise in private banking business practices and related financial crimes risks through nearly 15 years of advising leading global private banks on sensitive and strategically significant matters.

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