No Protocol

In this episode, Giles talks with Stanislas Colin Benoit, Director of Audit Services at Catallaxy, and someone who specializes in providing audit services to the virtual currency industry. Financial statement audit is something which has been getting a lot of attention from the crypto community of late, but why is it seen as such a valuable thing to have audited financials in the crypto space? We were fortunate enough to sit down with Stan and here from him about his experience providing these services to groups in this industry, as well as dissect some of the challenges and common pitfalls seen with firms looking to receive an audit of some kind. The show notes are listed below with timestamps if you wish to jump to a particular topic. Enjoy! • 1:56 - Who is Stan, and what does he do • 2:40 - What is a 'financial statement audit'? • 4:30 - Who is a financial audit for? What is the purpose / benefit of getting an audit? • 9:35 - Audit has become increasingly requested as something virtual currency businesses are looking for. In many ways, firms who have completed one are using it almost as a marketing tool. Why is this? Why is this such a valuable thing for a virtual currency business? • 12:45 - What are the challenges of undertaking a financial statement audit for a virtual currency business? • 15:07 - What is the process of getting a financial statement audit done? • 17:00 - What can / should businesses a business in the virtual currency space seeking an audit be doing in preparation for something like this? • 19:34 - What is the difference between a SOC (System and Organization Control) audit and a financial statement audit? Why would I want one over the other? • 23:10 - What are some of the challenges for auditors in applying the current audit standards to the virtual currency space? • 25:55 - What is the concept of 'ownership' and 'existence' and why is it so important to the audit discussion? • 29:50 - Why are block explorers potentially unreliable when confirming ownership and existence? • 32:26 - Are there alternatives to audit which can serve a similar / same purpose for a dealer in virtual currency? 35:15 - How do we get to more mainstream adoption of cryptocurrency?

In this episode, Giles talks with Dwayne King, a self-proclaimed "AML Geek", and who became the first person to seize Bitcoin in Canada as part of a criminal investigation back in 2015. We go in depth in to this fascinating story, Dwayne's background, how he got in to the anti-financial crime space, and what dealers in virtual currency should be thinking about when investigating potential financial crime on their platforms. Below are some timestamps for the episode in case you want to skip to certain sections. Enjoy! - 2:37 - why Dwayne calls himself the "Canadian AML Geek" and how he got in to the anti-financial crime space - 10:00 - how did he went about learning about money laundering and financial crime, leading him to becoming a court qualified AML expert - 18:40 - the fascinating story of how Dwayne became the first person in Canada to seize Bitcoin as part of a law enforcement investigation - 35:30 - talking about connect virtual currency to the proceeds of crime, without any sophisticated blockchain analysis tools - 41:00 - how can blockchain analysis tools help in investigating potential financial crime through virtual currency - 1:00:01 - Team Limitless - Dwayne is climbing Mount Kilimanjaro with his blind friend Jason. They are climbing for their charity, Team Limitless. Dwayne King •Linkedin - linkedin.com/in/dwayne-king •Twitter - coppertsx •Instagram - cdn_aml_geek Giles Dixon (Host of This Episode) •Linkedin - linkedin.com/in/gilesdixon

We are so excited to introduce this episode to the audience, as we have landed the highly anticpated and most decorated AML Professional in North America. Giles Dixon and Stephen Brent Sargeant sit down with the honorable, Peter Warrack at the BlockTech Connect conference in Hamilton, Ontario. Peter is CCO of Bitfinex, one of the world's leading virtual currency exchanges, and in our mind (and many other's) is one of THE leading minds in the anti-money laundering field. We cover some great ground in this episode and discuss everything from public private partnerships, how Peter got in to the AML field to begin with, how he made the transition from traditional financial services to the virtual asset industry, and practical tips and advice around what to consider when looking for a career in Blockchaain and Cryptocurrency space. This is an episode the audience will get immense value from so be sure to check it out, and thanks to Peter for giving up some of his time to talk to us. Enjoy! Disclaimer The views and opinions expressed in this episode (and all episodes) are those of the host(s) and the guest(s). They do not purport to reflect the opinions or views of their employers, contractors or any organization they may be affiliated with now or in the future. Time Stamps (Return back to your favorite point of the episode : •(1:35) – 30 Years of Financial Crime Compliance Experience Explained in 3 Minutes •(3:10) – Crypto Compliance Community Welcomes With Open Arms •(5:12) – Cryptocurrency And Financial Crime Mythbusters •(6:32) – How To Transition Into Cryptocurrency Compliance •(8:55) – How To Show Leadership With Many Diverse Teams •(10:45) – The Makings Of Project Protect And Project Participate •(14:15) – The Future Of Crypto Compliance (Lightning Network, Travel Rule) •(21:25) – How To Gain Subject Matter Expertise In Crypocurrency •(26:11) – How To Work With Regulators In Crypo Industry •(28:15) – How Do Cryptocurrency Exchange’s Hot Wallets Work •(33:35) – How To Produce Personal Brand Content When You Are In Corporate Environment •(35:20) – What Does Peter Warrack Want His Legacy To Be •(38:18) – What Is Your Favorite Cryptocurrency Stephen Brent Sargeant (Co-Host of This Episode) •Linkedin (Best way to reach me) - linkedin.com/in/stephen-brent-sargeant-cams •Instagram (Everyday type stuff) https://www.instagram.com/stephen_b_sargeant/ [https://www.instagram.com/stephen_b_sargeant/] •Twitter (I communicate in GIFs) - https://twitter.com/lifesgt [https://twitter.com/lifesgt] •Business Related Matters (Let’s Collab): stephenbsargeant@gmail.com [stephenbsargeant@gmail.com] Giles Dixon (Co-Host of This Episode) •Linkedin - linkedin.com/in/gilesdixon •Instagram (Photography Portfolio) https://www.instagram.com/giles_dixon/ [https://www.instagram.com/giles_dixon/] Peter Warrack (Guest of This Episode) •Linkedin - linkedin.com/in/peterwarrack Peter’s Articles: •ACAMS Article Of The Year: When Two Worlds Collide (Joseph Mari + Leonardo Real)- https://www.acamstoday.org/when-two-worlds-collide/ [https://www.acamstoday.org/when-two-worlds-collide/] •ACAMS Article: Front-Running the Traditional “Three Stages of Money Laundering”—Cuckoo Mining, the New Parasite on the Block (Giles Dixon + Stephen Brent Sargeant) - https://www.acamstoday.org/front-running-the-traditional-three-stages-of-money-laundering-cuckoo-mining-the-new-parasite-on-the-block/ [https://www.acamstoday.org/front-running-the-traditional-three-stages-of-money-laundering-cuckoo-mining-the-new-parasite-on-the-block/] •ACAMS Article: Ethically Enhanced Due Diligence and Human Trafficking (Joseph Mari)- https://www.acamstoday.org/ethically-enhanced-due-diligence-and-human-trafficking/ [https://www.acamstoday.org/ethically-enhanced-due-diligence-and-human-trafficking/] •ACAMS Article: Fintech: An Introduction to the 360 Degree AML Investigation Model - https://www.acamstoday.org/introduction-360-degree-aml-investigation-model/ [https://www.acamstoday.org/introduction-360-degree-aml-investigation-model/] •ACAMS Article: What’s in my wallet? (Giles Dixon) - https://www.acamstoday.org/whats-in-my-wallet/ [https://www.acamstoday.org/whats-in-my-wallet/] •ACAMS Article: Virtual Assets: Calibrating the Compass of Suspicion (Ruslan Nichkasov + Giles Dixon + Stephen Brent Sargeant)- https://www.acamstoday.org/virtual-assets-calibrating-the-compass-of-suspicion/ [https://www.acamstoday.org/virtual-assets-calibrating-the-compass-of-suspicion/] •ACAMS Article: Project Protect: An In-Depth Review of the Public-Private Partnership to Combat Human Trafficking in Canada (Joseph Mari)- https://www.acamstoday.org/project-protect-combat-human-trafficking-in-canada/ [https://www.acamstoday.org/project-protect-combat-human-trafficking-in-canada/] •ACFCS Article: ACFCS Exclusive Whitepaper: The Lightning Network – Deconstructed and Evaluated - https://www.acfcs.org/acfcs-exclusive-whitepaper-the-lightning-network-deconstructed-and-evaluated/ [https://www.acfcs.org/acfcs-exclusive-whitepaper-the-lightning-network-deconstructed-and-evaluated/]

It's here! Welcome to the very first episode of 'No Protocol' - the show dedicated to bringing you thought provoking insights from leading professionals in the world of anti-financial crime, and virtual currencies. In this first introductory episode, myself and my two co-hosts Stephen and Rus get in to explaining the reasons for creating the show, how it came to be, and what you as a listener you can expect from the show and future episodes.