ECC welcomes Schutzman, head of regulatory relations
We are absolutely thrilled to announce that Jessica Mila Schutzman is the new Head of Regulatory Relations for Electric Coin Co. (ECC). She’s a seasoned, multi-lingual strategic advisor with international expertise in due diligence, regulatory compliance, law enforcement, and business success.
As Director of Financial and Cyber Investigations for the District Attorney of Ulster County, New York, she investigated and prosecuted financial crimes, including money laundering and cybercrime. As a C-suite executive and international risk specialist, she managed a European-licensed financial services company with a wide range of internationally regulated clients — executing trustee, company management, and regulatory compliance functions, often in crisis situations.
Here’s a quick Q&A with Jessica:
How would you define your role at ECC?
Cryptocurrencies, especially those focused on privacy and security, are under tremendous threat from regulators, law enforcement, and businesses that want to transact in crypto as legitimate payment, but don’t know how best to do it. They each have their own language and all too often aren’t successful creating positive consensus on the vast societal benefits of crypto. I’ve spent time in each of these domains and can facilitate and balance conversations and action plans between the players — mitigating misconceptions and accelerating market penetration for Zcash.
You are CipherTrace-certified and you understand — perhaps better than most — how new financial tools like Bitcoin and Zcash are being used. How does your work as an investigator and prosecutor shape your views on privacy?
The use of fiat currencies far outweighs the use of cryptocurrencies for criminal activity. According to the UNODC, “the estimated amount of money laundered globally in one year is 2-5 percent of global GDP, or $800 billion-$2 trillion in current US dollars.” By contrast, the criminal share of cryptocurrency is falling and based on 2020 figures stands at just 0.34 percent. Clearly, the majority of Zcash users are not engaging in criminal activity and instead use Zcash for legitimate purposes. I have deep experience protecting people’s constitutional rights — including the rights that protect the sanctity of one’s home and/or person. For me, legitimate financial transactions on the blockchain require similar protections. I believe in Zcash’s mission and I am very much looking forward to helping the ECC team negotiate these complex global waters.