Meet the IDC — CANSU

We continue our Meet the IDC series, where we delve deeper into the personalities of our key members, going beyond what they usually talk about.

The council consists of a diverse and selected collection of individuals from varied backgrounds, brought together by a desire to drive the space forward. None are the sort to shy away from challenging questions, and — on the global stage — we work together to increase our understanding and overcome the challenges in bridging existing financial systems with new decentralized solutions.

So, let’s continue the series with an expert on regulations and compliance and see what brought her into crypto…

Meet the IDC: Cansu Burkhalter

Who are you?

Currently, I am working as Head of Compliance at Bitcoin Suisse AG in Zug, Switzerland. I am an attorney with extensive experience in tax and financial crime compliance, including international tax transparency regimes, US cross-border, anti-money laundering and combating the financing of terrorism, within the Swiss financial industry. Prior to joining Bitcoin Suisse, I worked as Head of Client Tax Risk and Co-Head of Client Tax Compliance in a global Swiss bank and for several years in a Swiss private bank. I am a graduate of the Marmara University Law Faculty and I hold a PhD in Law from the University of Zurich.

When did you get first involved with crypto? How was it?

My journey into the world of crypto began around 2016–2017, during my time at a Swiss Private Bank which was among the first to dip its toes into the crypto world. We were keen on exploring this then-emerging field, and as we began to accommodate an increasing number of clients interested in crypto, I saw an opportunity to broaden my own skill set and knowledge. I expressed my desire to the management to become a point of contact for all compliance and tax matters related to crypto. I spent a considerable amount of time scrutinizing the whitepapers of various projects, some of which have now become commonplace in the sector. I dedicated much of my time to intensive research, reading, and further education which has proven invaluable in my crypto journey. This initial foray into the world of crypto did more than just broaden my expertise — it ignited a passion for this dynamic and fast-paced field. As I delved deeper into the world of blockchain, smart contracts, and crypto currencies, I realized that I was not only expanding my professional competencies but also participating in a financial revolution that was poised to redefine the way we think about and handle money. My early involvement with crypto was challenging and exciting in equal measure. However, the wealth of knowledge I’ve gained and the experience I’ve accumulated over these years have been invaluable. It’s an area that continues to evolve rapidly, and I’m thrilled to be part of this exciting journey.

What is your goal/intent in the Defi space (a.k.a. why are you here)?

As a compliance professional, my overarching goal in the DeFi space is to foster a robust and compliant environment that can enable the sector to grow sustainably and responsibly without stifling innovation. Given the dynamism and potential that DeFi has demonstrated over the past few years, I believe there is an opportunity to set a precedent for a new kind of financial system — one that is open, transparent, and accessible to everyone. In the immediate term, my focus is on ensuring that DeFi projects can comply with the existing regulatory frameworks, while at the same time promoting dialogue with policymakers to ensure that the rules are flexible and adaptable enough to accommodate this rapidly evolving field. I intend to leverage my compliance expertise to bridge the gap between the DeFi innovations and the regulatory expectations, helping to cultivate trust and legitimacy in the DeFi space. Ultimately, my intent in the DeFi sector is to facilitate its growth and development in a manner that balances innovation with regulation. I am here because I believe in the potential of DeFi to democratize finance and I want to ensure that its growth is sustainable, ethical, and compliant. My mission is to help build the foundation that allows DeFi to reach its fullest potential, delivering on its promise to redefine the financial landscape, while ensuring that it operates within a regulatory framework that is both protective and enabling.

What do you like most and what are your biggest concerns in /with the space now and in the coming years?

What I appreciate most about the DeFi space is its potential to democratize access to financial services. DeFi’s transparency, open-source nature, and accessibility provide opportunities to individuals and communities that have been traditionally underrepresented or excluded from the traditional financial system. Moreover, the rapid pace of innovation in this sector is truly exciting, as it presents numerous possibilities for the evolution of financial systems and processes. However, my biggest concerns revolve around regulatory uncertainties and security vulnerabilities. The regulatory landscape for DeFi is still evolving, and the lack of clarity can pose challenges to growth and trust. Compliance with varying regulatory frameworks across different jurisdictions can be complicated, and there’s a risk that some DeFi projects may unknowingly fall foul of the law. Security is another significant concern. DeFi platforms are often targets for hackers, and there have been instances of security breaches leading to substantial financial losses. As DeFi continues to grow, it’s vital to focus on enhancing the security of these platforms and educating users on safe practices. Going forward, my concerns align with my goals. Ensuring the sustainability of DeFi requires addressing these regulatory and security issues. I believe that through effective dialogue with policymakers and continuous work on enhancing security protocols, we can navigate these challenges and shape a future where DeFi can reach its full potential, transforming the financial landscape in a secure and compliant manner.

What are you looking for in the IDC?

I’m hoping to find a community of like-minded individuals and professionals within the IDC. I’m seeking an environment where knowledge exchange is encouraged, and different perspectives are welcomed to create a more comprehensive understanding of the current landscape and future possibilities. I’m particularly interested in IDC’s research capabilities, as it would provide valuable insights into market trends, technological advancements, and regulatory developments. This would help me stay informed about the rapid changes in the DeFi space and adapt my strategies accordingly. I also look forward to the networking opportunities that the IDC presents, as building connections with experts, innovators, and thought leaders in the field can foster valuable collaborations and discussions. Lastly, I hope to contribute my own expertise in compliance and DeFi to the IDC, sharing my perspective and learning from others in a synergistic exchange. I believe that the IDC could provide the perfect platform to help shape a sustainable and compliant future for the DeFi industry.

What are you excited about or interested in other than crypto?

Outside the realm of cryptocurrency, I am deeply fascinated by the field of artificial intelligence. AI’s potential to revolutionize various sectors — from healthcare to transportation to entertainment — is truly exciting. I am particularly interested in the ethical implications of AI and how we can build systems that not only enhance productivity and efficiency but also respect our values and principles.

Thanks for your time and insights Cansu (LinkedIn Profile)