Introduction
This case study focuses on a leading cryptocurrency exchange facing intense regulatory scrutiny and the need for rapid compliance improvements.
Objective
RTP was appointed to provide expert guidance to address regulatory challenges, collaborate with senior teams, and deliver solutions within tight timeframes.
Approach
- Creation of the Regulatory Portfolio:
- Developed an inventory of regulatory projects.
- Conducted a health check on project states and resource allocation.
- Identified and addressed delivery risks.
- Regulatory Portfolio Delivery Governance:
- Established a governance control forum.
- Implemented a reporting system for progress and compliance.
- Developed risk and issue management processes.
- Structuring Business Strategy:
- Integrated regulatory requirements into the business strategy.
- Initiated a framework for delivery reporting and governance.
Results
Objectives were met within time and budget constraints. Additional support included:
- Exiting services in restricted regions.
- Implementing KYC remediation.
- Developing VASP licence application plans.
- Managing regulatory inquiries.
Conclusion
RTP’s comprehensive regulatory support addressed immediate concerns and positioned the exchange for future compliance and growth.
Future Outlook
The exchange is now better equipped for regulatory challenges and strategic expansions.
