Crypto Exchanges Mandated to Obtain IDs of Malaysian Clients
Posted: Tue Feb 27, 2018 10:17 pm
While retail and institutional brokers have long been complying with AML regulations and have been collecting a set of data from their clients, in the crypto-world, anonymity has been a valuable asset. Exchanges have been accepting clients without applying a very strict set of requirements to verify their clients.
The matter came into focus for the Malaysian Central Bank which has officially unveiled a list of KYC (know-your-customer) requirements for crypto exchanges that are on-boarding clients from the country.
Full KYC Process
The forms will need to require from their customers’ documentation that confirms their identity in detail. The central bank’s effort is ... (read more)