Best Compliance Practices for Web3 Companies

By Anu Phanse - Singapore CCO, Coinbase

Anu Phanse, the Singapore Chief Compliance Officer at Coinbase, stresses the significance of compliance in the cryptocurrency industry and encourages founders to prioritize it. She discusses key compliance concerns, such as AML regulations, customer due diligence, and transaction monitoring. Phanse also emphasizes the importance of staying updated with regulatory changes and complying with data privacy laws. She provides insights into compliance concerns in cross-border transactions, and the need for proper documentation and hiring the right people for a successful compliance program. Phanse warns of the potential consequences of non-compliance, including heavy fines, and underscores the importance of addressing compliance alongside the front-end strategy of a business.