Innovation in Compliance with Tom Fox A General Counsel in Crypto with Maryann Bullion
Maryann Bullion is the General Counsel and Chief Compliance Officer at Bitcoin IRA, the first 24/7 retirement solution that allows customers to invest in cryptocurrencies within their IRAs. At Bitcoin IRA, Maryann and her team handle a wide range of complex legal issues and run a comprehensive compliance program. Tom Fox welcomes her to this week’s episode to talk about Bitcoin IRA, how it helps its clients, and how her professional background prepared her for her current position.
Maryann’s Unique Professional Background
Fulfilling a childhood dream, Maryann joined the US Army in 2009, serving in the Judge Advocates General’s Corps (JAG Corps). She was a reservist in the military and worked full-time at the Federal Deposit Insurance Corporation (FDIC). Tom asks her how her stint in the army influenced her career. She highlights one of her favorite training activities where they would run an obstacle course with their weapons and stop periodically to answer legal questions. “It sounds kind of funny but in real life, these are some of the questions you're going to be asked as an attorney out on the field,” she tells Tom. While at the FDIC, Maryann worked in the professional liability and crime section, which advised the receivership section. She later moved to the DC area where she worked in the financial crimes unit; she worked with law enforcement to bring bank employees who committed mortgage fraud to justice. While working in this position she was introduced to the world of cryptocurrency.
The World of Cryptocurrency
Despite its increase in popularity over the past few years, the cryptocurrency industry is still unknown territory for many. Tom asks Maryann to define cryptocurrency and Bitcoin investing. She responds, “So for me, cryptocurrency is just money in a digital format that's protected cryptographically; cryptography is a lot of mathematical algorithms set to secure the monetary value. It exists on blockchain which allows it to maintain a transparent and public accounting settlement process.” She explains that Bitcoin is the most recognized cryptocurrency that investors transact in. She assures Tom that cryptocurrency isn't the Wild West - it follows rules and regulations. “There are a lot of regulatory agencies in the United States, and there are a lot of good actors in the cryptocurrency world that are following those rules,” she points out.
What is Crypto IRA?
Tom asks Maryann to define a crypto IRA and how a consumer buys Bitcoin with a crypto IRA. Maryann briefly explains that individuals can invest in various cryptocurrencies using funds from their retirement accounts. She compares it to your average TD Ameritrade personal brokerage account, except that with a Bitcoin IRA account you invest in cryptocurrencies. She also confirms that all cryptocurrency platforms have your data security as their number one priority, to defend their clients from hackers.
Resources
Maryann Bullion | LinkedIn