FDIC Guidance on Crytpo - Position on Stablecoin

Kathy Tomasofsky is the Executive Director of the Money Services Business Association (MSBA), a national trade association focused on money transmission payments and products. The association was launched in October 2015 as a voice for the Money Service Businesses with a focus on licensed entities. In her role as Executive Director, she provides Strategic guidance to the Board and works closely with State and Federal Regulators on behalf of the membership. She is an experienced management and operations professional with more than 30 years’ experience in Insurance and Financial Services. Ms. Tomasofsky has held various senior management level positions at the Network Branded Prepaid Card Association, USF&G Insurance and First National Bank of Maryland and was an Advisory Board Member to the IAFCI.

Ms. Tomasofsky earned an MS in Management Information Systems from the University of Baltimore and a BA in Business Administration from Loyola College in Maryland. She holds an MAT degree from Fairleigh Dickinson College, in New Jersey and has certifications in Project Management and Insurance.

Michelle Ann Gitlitz is co-founder and CEO of Change Agents Technologies Inc., a software company focused on financial regulatory compliance. Ms. Gitlitz has significant experience in evaluating regulatory issues for digital asset, cryptocurrency, decentralized finance and tradititional payment system providers. She has designed and reviewed state and federal money transmission, banking, cybersecurity, privacy and compliance programs for market participants. Ms. Gitlitz previously served as general counsel and corporate secretary of a FinCEN-registered and state regulated digital asset money transmitter from October 2021 through December 2023. Prior to that, Ms. Gitlitz was the co-head of the financial services practice group and head of the blockchain and digital asset practice group at two AmLaw 100 law firms. She is the author of Reimagining Payments: The Business Case for Digital Currencies (Racket Publishing 2023) and an adjunct professor at the University of Miami School of Law teaching a course on digital commerce regulation. At the recommendation of New York Attorney General Letitia James, Ms. Gitlitz was appointed by Judge Andrew Borrok of New York Supreme Court as the receiver for the defunct crypto platform.

Kristi Diehl, CAMS, is Managing Director at Change Agents Technologies, where she advises financial institutions on building and strengthening BSA/AML and regulatory compliance programs and assists them with state and federal regulatory requirements and licensing applications. With more than two decades of senior compliance leadership at Western Union, MoneyGram, Skrill, Green Dot, and most recently as Interim Chief Compliance Officer at United Texas Bank, Kristi has shaped global AML, sanctions, and risk frameworks across the payments and banking industry.

With a background that includes co-authoring patents for AML and fraud prevention, my mission is to elevate the standards of financial compliance. My commitment to excellence has established robust systems for risk detection, ensuring the integrity of compliance programs and contributing to the safeguarding of the financial industry.