Western Union's 2013 Consumer Protection and Compliance Conference

Jay Postma, CAMS, President of MSB Compliance Inc. was honored to be a speaker again for Western Union at its annual conference.  Mr. Postma presented material on the Emerging Risks of Digital Currencies (E-Currency / Bitcoin / Liberty Reserve) along with Scott Apodaca, CAMS, Senior Manager, Western Union.

The presentation became headline news in the bitcoin community with Bitcoin Magazine publishing an article on October 23, 2013 entitled "Western Union says Bitcoin Not Ready for Primetime".   CoinDesk published an article November 1, 2013 titled "Western Union: bitcoin isn't ready of international money transfer yet."

MSB Compliance also engaged in various Twitter conversations concerning the presentation to help clarify that the opinions shared were those of Mr. Postma (although Western Union certainly delivers more page hits).  Digital currencies are young and not yet ready to supplant existing technologies and players... but their day is coming.  Bitcoin and similar currencies represent an amazing technological platform for ongoing innovation in the payments space.