We are thrilled to share the exciting news that the Chamber of Digital Commerce has once again been granted membership in the Financial Crimes Enforcement Network’s (FinCEN) Bank Secrecy Act Advisory Group (BSAAG) for another three-year term. This renewal reaffirms our position as the leading digital asset organization representing the industry’s interests in crucial regulatory discussions.

We are honored to be the only digital asset-focused member organization selected to participate in the BSAAG, a prestigious group that advises FinCEN on anti-money laundering (AML) and counter-terrorist financing (CTF) matters. This opportunity provides us with a unique platform to advocate sensible and effective policies that promote the growth and innovation of the digital asset ecosystem, while ensuring compliance with necessary regulatory measures.

Our continued presence in the BSAAG underscores the Chamber’s commitment to fostering dialogue and collaboration between the public and private sectors. As the digital asset landscape continues to evolve rapidly, it is crucial that our industry has a seat at the table where decisions impacting our members and the broader public are made. By actively engaging in discussions and sharing our industry expertise, we aim to shape policies that strike a balance between protecting against illicit activities and enabling the responsible development of digital assets and blockchain technology.

Our renewed membership in the BSAAG also serves as a testament to the Chamber’s unwavering dedication to driving positive change within the digital asset industry and affirms our standing with policymakers as a reliable and trusted voice for our industry Together, we will navigate the evolving regulatory landscape, shaping policies that embrace innovation and foster the growth of a responsible and compliant ecosystem.

Bank Secrecy Act Advisory Group (BSAAG)

BSAAG was created to provide FinCEN with advice and recommendations on matters related to the Bank Secrecy Act (BSA), AML, and CTF efforts in the United States.

The BSAAG is composed of representatives from various stakeholders including financial institutions, trade associations, law enforcement agencies, regulatory bodies, and other organizations involved in combating financial crimes. The members are selected based on their expertise and knowledge in AML/CTF matters.

The mission of the BSAAG is to foster public-private cooperation, enhance information sharing, and promote effective implementation of AML/CTF measures. It aims to strike a balance between preventing illicit activities such as money laundering and terrorist financing while minimizing the burden on financial institutions and encouraging innovation in the financial sector.