#BITCOINCONF – LLANOS: DON’T HIRE A LAWYER OR A VENDOR FOR BITCOIN COMPLIANCE

LAS VEGAS (InsideBitcoins) – The Inside Bitcoins Conference in Las Vegas began with two concurrent workshops today, one of which – on compliance and anti-money laundering issues of bitcoin – featured a lively exchange between the audience and Juan Llanos, EVP of strategic partnerships at Bitreserve.org.
‘Bitcoin compliance should be handled by engineers, not lawyers,’ Llanos, a self-described advocate of ‘contrarian compliance,’ declared. ‘Why pay $900 an hour for a lawyer when you get it for free? You can please – and even dazzle regulators.’ Llanos then agreed with a comment from an attendee that you need, in fact are required, to have a compliance administrator but hiring a lawyer, or even a vendor, is not necessary.

This post was published at Inside Bitcoins on Oct 5, 2014.

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