“The operating environment is going to be more difficult for entities that want to operate in an undefined regulatory location,” said Yaya Fanusie, director of policy for AML and cyber risk at the Crypto Council for Innovation. “There's growing impatience among both regulators and compliant actors with firms that try to play regulatory arbitrage.”
“Cross-border information sharing is generally cumbersome,” said Zerden, who is also an adjunct senior fellow at the Center for a New American Security. Working across borders “can be incredibly frustrating for law enforcement and regulatory officials,” but when friendly jurisdictions have similar concerns, the work can move much more quickly.
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