“The fact that criminals now, a decade and a half into this ecosystem existing, can still successfully launder on a public ledger is kind of horrifying” In this sequel episode of "Seize & Desist," Aidan Larkin is back with cybersecurity expert Carole House to continue their discussion on the challenges and potential solutions surrounding illicit finance in the crypto sector.  They delve into the decentralized nature of crypto, address the persistent underestimation of cyber threats posed by state-sponsored actors such as North Korea and examine the challenges inherent in our existing countermeasures against the sophisticated use of cryptocurrency in ransomware-as-a-service models. They also touch on the centralized nature of stablecoins, the importance of responsible innovation and the need for the crypto industry to step up when it comes to compliance. Timestamps 2 | Carole’s major role in public sector policy in crypto and background  13 | Blockchain analytics firms only capture a floor of illicit activity, not the ceiling 20 | The effectiveness of regulations in combating crypto-related crimes  26 | The ongoing debate of surveillance tools and a decentralised crypto society  31 | Lack of regulation and industry responsibility internationally  35 | Info sharing and other lessons from cybersecurity  Resources Mentioned: Estimating illicit financial flows resulting from drug trafficking and other transnational organized crimes (UNODC 2-5% stat source)Congressional Hearing: Crypto Crime in Context Part II: Examining Approaches to Combat Illicit ActivityCounter-ransomware initiative (International Counter Ransomware Initiative (CRI) -)Book: Investigating Cryptocurrencies (by Nick Furneaux)Book: Currency Cold War (by David Birch)Podcast: The Lazarus Heist (by Geoff White) Podcast: Unchained (By Laura Shin)Book: The Cryptopians (By Laura Shin)Podcast: Bankless (By Adams and Hoffman) About our Guest: Carole House is a cybersecurity and risk management specialist with a background in U.S. military intelligence. Throughout her decorated career, she has held several senior positions in the government, including Senior Cyber and Emerging Tech Policy Officer at the US Treasury; Head of Virtual Assets at FinCen and Director of Cybersecurity and Secure Digital Innovation at the White House. In these roles, she spearheaded initiatives to strengthen digital infrastructure and counter cyber-enabled national security threats. Carole currently serves as the Executive in Residence at Terranet Ventures, where she advises start-ups and non-profits on strategies to protect against emerging cyber threats. Disclaimer Our podcasts are for informational purposes only.  They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.   Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.   Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.