A Blog on the topic of the Law
About Marcus Andrade
Marcus Andrade is a Houston-based entrepreneur and the Founder of multiple businesses within the digital currency space, including AML BitCoin (previously known as Aten Coin), CrossVerify, AtenTacker, EcoinsTrader, and AtenPay. During his time as a United States Marine, he attended Coastal Carolina Community College, where he studied Computer Programming, also taking classes at the United States Marine Corps Institute, Del Mar College, and Grantham University throughout his years in the service.
As a maverick within the world of digital currency, Marcus first became interested in law when he began digging into the basics of BitCoin. Though the new technology was exciting, it was clear to him that it posed a ton of risks, especially when it came to security. When he developed AML BitCoin, he created it with those aforementioned security issues in mind, working in the first of its kind personal identity-linked credential authentication that has been built into the coin’s source code. Marcus Andrade knew that, anymore, financial crimes aren’t out in the open, but rather virtually, and that the lack of regulation in the digital currency scene was an open invitation for illegal activity.
While Marcus has no formal education or background in law, the field has always been an instrumental part of his life and has often guided his decisions. His mother decided to go back to school and become an attorney while also taking care of her five children. This meant that law books were often strewn around the house, and Marcus became interested in their content. After his mother passed, the law books offered him a way to still connect with her.
When he began to develop his own digital currency, it was important to Marcus Andrade to create a coin that would stand up to the regulations that were swiftly approaching the industry. Others advised him to set up the company offshore and work with other countries—that working with the United States would be difficult. But, Marcus wanted to create something U.S. approved—something safe, reliable, and efficient. So, when he started building the basis of AML BitCoin, he hired skilled developers and began conversing with regulators to better understand the industry.
Unlike other forms of digital currency, Marcus has created something that is compliant with a slew of laws and regulations, such as the Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Anti-Fraud and Financial Crimes (AFF), Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), USA PATRIOT Act and the FACT Act. What’s more, it was also built with anti-money laundering, anti-terrorism, and anti-theft in mind.