Andrea
Thu Sep 05 2024
|
6 answers
1112
Do cryptocurrency exchanges need KYC compliance?
Could you please explain why cryptocurrency exchanges would require KYC (Know Your Customer) compliance? I understand that in traditional finance, KYC is a crucial measure to prevent money laundering and terrorist financing, but how does it apply to the world of cryptocurrency? Does it help in maintaining the integrity and security of the exchanges, or is there a different reason entirely? I'm curious to understand the rationale behind this requirement and its impact on the cryptocurrency ecosystem.
