EDA NM Rainforest University Center - Common Digital Asset Business Risks

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Complete this assessment to receive credit for viewing the July 26, 2022 New Mexico Rainforest EDA University Center Seminar, "Common Digital Asset Business Risks" by Joe Pitluck. This quiz is based on both the seminar and the handouts. Handouts are available at NMRainforest.com

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UNM Branch Campus (if applicable)

Gallup

Taos

Valencia

Los Alamos

Main Campus

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1. What are the defining aspects of a digital asset? Check all that apply. *

Digital representations of value

Represents a real-world object

Can be stored, transferred, but not traded

No intermediary

Required

2. True or False? A bank can qualify as a digital asset company. *

True

False

3. List the three unique risks faced by digital asset businesses. *

4. What is the definition of compliance risk often faced by digital asset companies? *

5. What is a simple summation of transactional/operational risk? *

Risk of loss due to other parties failing to meet obligations

Risk of violating laws and regulations and facing fines or jail time

Risk of a company poorly managing their keys

Risk of devaluation

6. True or False? The digital asset industry is still largely unregulated. *

True

False

7. Please briefly explain what the common phrase "not your keys, not your crypto" means. *

8. True or False? Should digital asset companies hold traditional bank accounts? *

True

False

9. What is the main goal of the Responsible Financial Innovation Act? *

10. Please list two ways digital asset businesses can help foster a culture of compliance. *

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