Celo Labs Hires Ex-DOJ and Capital One AML Expert To Lead Its Regulatory and Compliance Matters


Celo Labs is a budding mobile crypto payment startup that is building user-friendly mobile crypto payment tools. The firm has announced today that they have hired Jai Ramaswamy, former chief of asset forfeiture and money laundering at the U.S. Department of Justice.

As the chief of AML compliance at DOJ Ramaswamy played a pivotal role in prosecuting financial institutions for violating sanctions and money laundering.

The interest of Celeb Labs towards Ramaswamy is understandable given his vast experience in monitoring the use of cryptocurrencies for illicit activities and prosecutions surrounding it. Given the complexities surrounding crypto regulations in the United States, having someone on board from the DOJ is a big bonus.

Ramaswamy also worked extensively in the private sector after his stint at DOJ. Before joining Celo labs he has worked at Capital One and prior to that he worked at Bank of America.

Celo Labs hired Mr. Ramaseamy for his vast experience in the regulatory sector and most importantly around AML compliance. He said,

“I’m interested in helping [Celo Labs] understand its overall risk profile, ”

“The industry is trying to figure out how to deal with this technology in ways that traditional regulation has potentially not thought about or where principles have to be extended in areas that are somewhat novel,”

Celo Labs, on the other hand, looks to have something interesting up its sleeve as it has over 60 backers worldwide including World Bank Group and the UN; Google, Square, Microsoft, Apple, PayPal, and Morgan Stanley. In addition, they have MIT, Stanford, Harvard, and Berkeley on board.

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