Money laundering and fraud are serious issues in the cryptocurrency industry. Financial institutions and governmental bodies have been trying to regulate cryptocurrencies to fight this problem. There still aren’t foolproof methods, but there are different processes to help ensure cryptocurrency compliance. Know Your Customer or KYC is just one way that financial institutions try to assert compliance amongst their clients. Know Your Customer is simply a process of vetting clients to help mitigate crypto laundering. KYC falls under the umbrella of anti-money laundering tactics. If you are interested in crypto exchange, you need to know about KYC. Even if you
The post Mining City Reviews the Importance of Know Your Customer (KYC), Compliance, and Cryptocurrency appeared first on The Merkle News.
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