The Cryptocurrency Compliance Cooperative (CCC) Hosts Inaugural Meeting, Sets Sights on Helping Mitigate Human Trafficking and Money Mule Activity

The Cryptocurrency Compliance Cooperative (CCC), a collaborative association led by top Bitcoin ATM operators and blockchain industry leaders advocating for compliance standards in the cash-to-cryptocurrency industry, hosted its inaugural meeting with members. In addition to announcing 11 new members, the CCC laid the groundwork for how the nearly 30-member group will focus its efforts to create a safer environment for consumers in the cash-to-crypto space.

“It was amazing to see representation from so many different organizations in the cash-to-crypto industry at our first meeting, and we are thrilled with the amount of interest that we’ve received from prospective members since our launch just a few months ago,” said Seth Sattler, Director of Compliance for DigitalMint and leading contributor of the Cryptocurrency Compliance Cooperative. “This industry can be a crucial mechanism for getting individuals involved with cryptocurrency. Our goal is to make the cash-to-crypto industry as safe and sustainable as possible, and that starts with getting the right voices in the room.”

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During its inaugural meeting, the CCC established its roadmap for the coming months, at the center of which will be an emphasis on establishing strong public and private partnerships. Efforts will be placed on developing relationships and opening dialogue with law enforcement agencies and regulators at the federal, state, and local level as well as focusing the group’s collective influence on battling money mule activity and anti-human trafficking initiatives.

“The potential for cash-to-crypto mechanisms to enable better financial access for people around the world is clear – but as we’ve seen in other parts of the crypto economy, establishing a trust and safety layer for those services is critical,” said Esteban Castaño, CEO and co-founder of TRM Labs. “To that end, we’re excited about the role that blockchain analytics and the growing CCC community can play in safely unlocking that potential.”

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“We are excited to join the Cryptocurrency Compliance Cooperative to raise KYC and AML standards,” said Elizabeth Bramlage, CMO for ComplyAdvantage. “ComplyAdvantage’s vision is to neutralize the risk of money laundering, terrorist financing, and financial crimes. The CCC shares the same belief that data, technology, and training are at the center of solving these issues.”

“The fight against financial crime today is on an uneven field. Criminals can run rings around the industry because they freely share information and tools with each other, while the good guys operate independently in silos,” said Matt Van Buskirk CoFounder and Co-CEO of Hummingbird. “The CCC is a major step towards uniting ethical leaders in this industry and turning the tables.”

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