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Circle Joins U.S.-Led Initiative to Combat Illicit Finance in Virtual Assets!

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Erik Rosenblatt, a senior leader at US stablecoin issuer Circle, will represent the company on the Illicit Virtual Asset Network (IVAN) board. Prior to joining Circle, Rosenblatt spent over two decades as a special agent with the U.S. Department of Homeland Security and the U.S. Department of the Treasury. As part of IVAN, Circle will have a voting role in determining the network’s priorities and membership.

Key Points

  • Circle secures a three-year seat on the board of the new Illicit Virtual Asset Network (IVAN), a public-private partnership to counter criminal activity.
  • IVAN unites governments, law enforcement, and industry leaders to address real-time threats from transnational financial crime.
  • Circle’s role emphasizes its commitment to regulatory compliance and fighting illicit finance through innovative blockchain technology.

Short Narrative

Circle, the issuer of the USDC stablecoin, has been appointed to a three-year board position in the newly established Illicit Virtual Asset Network (IVAN). IVAN, a global public-private partnership, brings together governments, law enforcement agencies, and industry players to combat illicit finance in the virtual asset space.

Circle’s Chief Compliance and Risk Officer, Mandeep Walia, emphasized the company’s dedication to being a regulatory-first institution, underlining the importance of AML and CFT controls in the adoption of digital assets. Circle’s representation on IVAN’s board will help shape the network’s strategic direction, focusing on identifying and countering criminal threats in real-time.

Actionable Insight

This appointment reflects Circle’s increasing involvement in regulatory initiatives, signaling that compliance-focused digital asset companies can play a key role in deterring financial crime. Industry participants should expect growing public-private collaboration to strengthen financial transparency.

Call for Information

Stakeholders in digital asset regulation and compliance are encouraged to share insights on new AML/CFT strategies and blockchain innovations that can aid in deterring illicit finance.

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