RAW Compliance Awards 2021
Malcolm Wright has won the 'Impactful Change in Industry' award at the RAW Compliance Awards 2021
Malcolm Wright is the Chair of the Advisory Council at Global Digital Finance, an industry-led initiative in setting codes of conduct and best practices for the crypto-asset industry, as well as Chief Compliance Officer in the virtual asset industry.
In his role at GDF he has led industry discussions with the FATF around virtual asset regulation, as well has having co-founded and co-led the body that created the IVMS101 data standard that is now the defacto data format for VASPs looking to meet their travel rule (wire transfer) obligations. Malcolm also speaks internationally on a variety of topics in particular the FATF Recommendations for Virtual Asset Service Providers.
"I'm truly honoured [to receive this award]. It's been three years of intense work since this journey began. Many evenings, nights, and weekends given to support this nascent industry as it goes mainstream. All of this was pro-bono, but so important to be involved in because the future success of the industry will be driven by how well the industry responds to the concept of "Responsible Innovation".
[Over this past year I have learnt that] Collaboration is vital. It's so important to accommodate diverse voices and opinions in order to find the best solution forwards. This isn't just within the industry, but also in conversations between regulators / policy makers and the industry. The way forward for crypto and the wider ecosystem is to collaborate; with one another and with those responsible for regulation."
What advice would you give to aspiring individuals in your field?
"Familiarise yourself with those things that might be currently beyond your sphere of knowledge. For example, if you work in traditional finance sanctions screening, look at how travel rule is influencing crypto and the sanctions screening requirements. Learn about crypto, and if you are permitted to do so then learn by doing. The importance of crypto (CeFi and DeFi), blockchain, stablecoins, NFTs and more will become apparent in 2022, and the earlier you build familiarity then the earlier you can be ready for this monumental change to our financial services ecosystem."
About the RAW Compliance Awards 2021
RAW Compliance Awards are held each year to recognise the people and organisations that have made a difference and impact in the community including helping to shape the industry ecosystem and maintaining the highest level of compliance standards through an ever changing and complex regulatory landscape. Each year, submissions are diligently evaluated and award winners selected by a panel of industry experts serving as judges.
The full list of award winners is available here.
In his role at GDF he has led industry discussions with the FATF around virtual asset regulation, as well has having co-founded and co-led the body that created the IVMS101 data standard that is now the defacto data format for VASPs looking to meet their travel rule (wire transfer) obligations. Malcolm also speaks internationally on a variety of topics in particular the FATF Recommendations for Virtual Asset Service Providers.
"I'm truly honoured [to receive this award]. It's been three years of intense work since this journey began. Many evenings, nights, and weekends given to support this nascent industry as it goes mainstream. All of this was pro-bono, but so important to be involved in because the future success of the industry will be driven by how well the industry responds to the concept of "Responsible Innovation".
[Over this past year I have learnt that] Collaboration is vital. It's so important to accommodate diverse voices and opinions in order to find the best solution forwards. This isn't just within the industry, but also in conversations between regulators / policy makers and the industry. The way forward for crypto and the wider ecosystem is to collaborate; with one another and with those responsible for regulation."
What advice would you give to aspiring individuals in your field?
"Familiarise yourself with those things that might be currently beyond your sphere of knowledge. For example, if you work in traditional finance sanctions screening, look at how travel rule is influencing crypto and the sanctions screening requirements. Learn about crypto, and if you are permitted to do so then learn by doing. The importance of crypto (CeFi and DeFi), blockchain, stablecoins, NFTs and more will become apparent in 2022, and the earlier you build familiarity then the earlier you can be ready for this monumental change to our financial services ecosystem."
About the RAW Compliance Awards 2021
RAW Compliance Awards are held each year to recognise the people and organisations that have made a difference and impact in the community including helping to shape the industry ecosystem and maintaining the highest level of compliance standards through an ever changing and complex regulatory landscape. Each year, submissions are diligently evaluated and award winners selected by a panel of industry experts serving as judges.
The full list of award winners is available here.