Why KYC Isn’t Enough for Crypto Compliance - Charlene Cieslik | ATC #627 - Around The Coin | Lyssna här

Live from Futurist, host Stephen Sargeant interviews Charlene Cieslik, an independent financial crime compliance consultant with 26 years in compliance (including early FINTRAC) and 10 years in crypto, about Canada’s crypto compliance landscape. Cieslik argues repeated misconduct by industry players has driven regulatory stagnation and poor laws, and says stablecoins should be treated as payments, not securities, while warning Canada is lagging in innovation. She highlights data sovereignty and national security risks from foreign-controlled payments infrastructure, calls for stronger public-private collaboration, and is skeptical FINTRAC’s enforcement push will deliver. Discussing Bitcoin ATMs, she supports data-driven decisions over bans, and stresses many firms mistake AML for KYC, neglecting risk assessments. She also covers “three MSBs in a trench coat” risks, the importance of human communication amid AI governance, and challenges women face in crypto, emphasizing visibility and speaking openly as her legacy.

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