By Josh Oliver, Chief Compliance Officer
Warren Buffet said it best: “It takes 20 years to build a reputation and five minutes to ruin it.”
While one doesn’t always think “compliance” when they hear “blockchain,” the truth is regulatory compliance helps firms in our industry protect their business resources — and reputation. In fact, compliance lays the foundation on which a financial technology company can build that reputation.
Compliance regulations aren’t put in place to make life more difficult, although, in reality, they often do. But these rules and regulations can benefit a company each day, as well as over the long run.
They help protect a business, its employees, and its customers. Failing to adhere to regulatory compliance requirements can open a company up to risks beyond just fines. Sometimes, all it takes is one compliance misstep and a firm can break the trust it has taken years to build.
That is why at Symbridge, we are domiciled in the U.S., where compliance regulations are arguably the most stringent in the world. Research shows that today’s consumers and investors want to interact with organizations that are transparent and have a reputation for being honest. We know that in the digital economy, our client’s trust matters most.