AML And KYC: The Need Of The Hour For Crypto Exchanges

Melissa IN Team | AML, KYC | , , , ,

While cryptocurrency may still be far from being accepted as legal tender in most countries, it is one of the reigning investment routes. The transparency offered and ease of investment are probably the two most important factors contributing to its popularity. But, the convenience it offers has also made it attractive for money laundering and terrorist funding. This is a global problem that has brought about the need for strong Anti-Money Laundering (AML) legislation and Know Your Customer (KYC) processes. The challenge now for crypto exchanges and wallets is to balance regulatory compliance with a smooth customer experience.

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