Research Shows Most Major Cryptocurrency Providers Not KYC Compliant

[kreslik.news]

Only 32 percent of cryptocurrency exchanges in the US and EU conduct full identity checks of their customers, according to a analytics house P.A.ID Strategies. The study was commissioned by Mitek, a company that sells identity verification technology.

The news was reported by UK-based public relations company RealWire.

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‘Know Your Customer’ checks, known by the acronym KYC, are a central facet of regulatory law. The objective is to stop companies from being used for criminal activity by denying criminal elements the ability to hide their identity. KYC checks are mandatory for all ... (read more)