Compliance shouldn’t slow you down

If you think compliance is the department of “No” – the roadblock to fast go-to-markets – you’re not alone. But this is a misconception I’d like to dispel. 

The compliance department of any crypto company is essentially the middleman between regulation and product. We help operationalize what the company wants to achieve. We’re not trying to slow anyone down.

The regulatory landscape

The crypto regulatory landscape isn’t as chaotic as it might seem. While some assume crypto is entirely unregulated, the reality is far from that. In fact, the industry is highly regulated, though the frameworks vary across regions.

In the U.S., for example, companies need to secure licenses to operate in specific states. The type of licenses required depends on factors like the company’s business model and customer base. Although state-level regulations vary, federal oversight still exists through agencies like the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Asset Control (OFAC).

For a global company like MoonPay, the complexity increases. MoonPay operates in over 180 regions and holds a Money Transmitter License (MTL) in 45 U.S. states and territories (which includes D.C., Puerto Rico and Guam). Outside the U.S., compliance involves navigating country-specific regulations, such as those set by the Financial Conduct Authority (FCA) in the U.K., the Central Bank of Ireland (CBI), and newer frameworks like the European Securities and Market Authority’s Markets in Crypto-Assets Regulation (MiCA).

Even without federal U.S. crypto regulation, companies must work within a complex web of oversight. Far from being lawless, the industry keeps compliance teams and legal departments exceptionally busy ensuring adherence to these rules.