Nexo Joins ACSS to Boost Crypto Compliance Standards
This targeted training will enable Nexo to refine its compliance team's understanding of OFAC and EU sanctions regimes, building a solid compliance program.
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Nexo, a digital assets institution, is improving its position in the crypto industry through a new partnership with the Association of Certified Sanctions Specialists (ACSS), revealing a strong commitment to improving regulatory compliance standards.
Proud to announce our partnership with the Association of Certified Sanctions Specialists.
Harnessing the expansive databases, meticulous training resources, and far-reaching connections within @ACSS_Sanctions, the collaboration is set to supercharge our compliance program. 🧵 pic.twitter.com/SRDXrO5OcA
— Nexo (@Nexo) July 27, 2023
Leveraging ACSS’s comprehensive resources — wide-spanning databases, rigorous training materials, and international connections — will help strengthen Nexo’s capabilities in compliance, a statement sent to Crypto Briefing explained. Nexo’s compliance professionals will earn ACSS certification, adding further credentials to their already notable expertise as part of this collaboration.
This specialized training is expected to deepen Nexo’s Compliance team’s understanding of the Office of Foreign Assets Control (OFAC) and EU sanctions regimes while fostering the creation of a strong compliance program.
The head of Compliance at Nexo, Savina Boncheva, expressed her enthusiasm for the partnership, emphasizing the company’s mission to uphold strict compliance standards as the crypto landscape evolves:
“As an organization that excels in providing sanctions training for multinational corporations and financial institutions, we can provide Nexo’s team with the highest quality of training, advancing compliance within the crypto sector.”
Saskia Rietbroek, ACSS executive director, also praised the collaboration, reaffirming ACSS’s commitment to providing high-quality sanctions training, thereby advancing cryptocurrency compliance.
Nexo’s partnership with ACSS follows its recently improved data security measures: SOC 2 Type 2 assessment executed by A-LIGN. Its track record in maintaining rigorous compliance and information security protocols is reflected in the tripling of its Compliance and InfoSec departments in 2023.
Through 2022, Nexo has set itself apart as a crypto firm with a solid security infrastructure, comprising stringent overcollateralization policies, appropriate risk management and insurance. Nexo’s commitment to compliance adds to its already stringent regulatory approvals across various jurisdictions and the trust of over six million clients.