Michael Pearl interviews Derek Hong, Head of Compliance at Matrixport Hong Kong, discussing the evolving landscape of compliance in the crypto space, particularly in Hong Kong.
They explore Derek's extensive background in compliance across various financial sectors, the unique challenges faced by Matrixport as a comprehensive crypto financial service provider, and the regulatory framework in Hong Kong that aims to balance innovation with consumer protection.
The conversation delves into the importance of security measures, transaction monitoring, and the proactive steps taken to prevent fraud and scams in the rapidly changing crypto environment.
(00:44) Derek Hong's Background and Experience
(02:25) Compliance in Different Financial Sectors
(04:09) Matrixport's Unique Compliance Challenges
(06:10) Regulatory Landscape in Hong Kong
(09:27) Deemed Licensing Process and Compliance Operations
(13:28) AML Requirements and Transaction Monitoring
(15:58) Security Measures Against Hacks
(20:28) Consumer Protection Regulations in Hong Kong
(22:32) Budgeting for Reimbursements
(23:35) Fraud Prevention Tools and Strategies
(25:35) Current Threats in the Crypto Space
(27:59) Real World Assets and Regulatory Considerations
(30:06) Future of Hong Kong as a Crypto Hub
The Podcast is sponsored by Cyvers - the leader in threat prevention and mitigation in Web3, leveraging AI-driven technology to help industry leaders like Ledger, BitGo, 21Shares, and Crypto[.]com prevent hacks, fraud, scams, and compliance challenges.
Cyvers’s solutions provide pre-emptive protection against malicious activity across the Web3 space.
Learn more at: Cyvers.ai