DUBAI – August 16, 2022 – BitStar, the world’s leading blockchain and crypto asset infrastructure provider, announced today that it has joined the Association of Certified Sanctions Commissioners (ACSS). ACSS is the only organization for sanctions compliance professionals in the Asia Pacific region.
Established in 2018, ACSS provides quality education and various benefits to its members. BitStar is the first encrypted asset trading platform to officially join the ACSS Association.
BitStar will make full use of ACSS’s training materials, comprehensive database, and deep and extensive network to further enhance the skills and expertise of its compliance team. As part of the certification process, all Compliance Officers on the Sanctions Team and all BitStar Directors responsible for AML reporting, compliance operations, and specialized investigations will be trained by ACSS.
Mandatory training is critical to keeping BitStar’s sanctions team abreast of the latest OFAC guidance on developing sanctions compliance procedures. ACSS will also help ensure that the BitStar team complies with sanctions and understands the risks of non-compliance in different jurisdictions.
Malcolm Palle, Head of Compliance for BitStar Asia Pacific, said: “The blockchain industry is still in its early stages of development. Against the background of rapid industry development, maintaining the highest level of compliance has always been our top priority. Through cooperation with Working closely with ACSS, we will raise our sanctions compliance standards to a level recognized by industry-renowned associations, and provide opportunities for our compliance team to improve their skills. We hope to join hands with other industry players to jointly formulate industry standards safety and compliance standards.”
Saskia Rietbroek, Executive Director of ACSS, said: “We are honored to be selected by BitStar, the Asia-Pacific leader in the blockchain ecosystem and encrypted asset infrastructure. As an organization that focuses on providing sanctions training for multinational companies and financial institutions, We will ensure that the BitStar team is provided with the highest quality training in this ever-changing field and drive compliance in the cryptoasset industry.”
Over the past two years, regulatory compliance has been a key focus of BitStar. In 2022, the size of BitStar’s compliance team will expand from 450 to 600, reflecting BitStar’s continued efforts to invest in its compliance team. To this end, BitStar has obtained regulatory licenses, registrations and permits in a total of 14 jurisdictions, including Malaysia, Singapore, Thailand, Central Taiwan, Hong Kong, Japan, Vietnam and Australia.
Bitstar Capital Group Co., Ltd.
Official Site: http://www.BitStarm.com
Company number: 1082578-6
Commercial number: 745083717RC0001
Member Association: Vancouver Crypto Assets Trading Association
Research Institution: Canadian Market Research Institute
Contact: Kelly Bridge
Company: Bitstar Capital Group INC.
E-mail: [email protected]
City: Vancouver, Canada
Address: 1275 W 6th Ave, Suite 300 Vancouver BC V6H 1A6 Canada
Source Bitstar Corporation