This guide is designed to serve as a practical, hands-on resource for financial compliance professionals working in the crypto industry. It covers the essentials of building and scaling a crypto AML program, how to navigate regulatory change, and the emerging use cases — and threats — compliance teams should look out for.
Do crypto exchanges need AML & KYC?
Managing the maze of global regulations like AML (Anti-Money Laundering) and KYC (Know Your Customer) can be tricky for crypto exchanges. As a matter of fact, these are mandatory for regulated entities under Anti-Money Laundering/Counter Financing Terrorism (AML/CFT) rules all around the world.
Are crypto exchanges up to scratch with AML policies?
At this time, crypto exchanges are not up to scratch with their AML policies. A recent study by Coinfirm showed that 69% of the 216 crypto exchanges do not have “complete and transparent ” know-your-customer (KYC) procedures in place — An integral part of a robust AML program.
