What are the compliance measures that crypto exchanges need to implement under the new laws?

3 answers

• SubhinJul 05, 2020 · 5 years ago
  As a cryptocurrency exchange, it is crucial to implement robust compliance measures to ensure adherence to the new laws and regulations. This includes conducting thorough customer due diligence, implementing Know Your Customer (KYC) procedures, and monitoring transactions for suspicious activities. Additionally, exchanges should establish strong internal controls and risk management systems to prevent money laundering and terrorist financing. Compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations is of utmost importance to maintain the integrity of the crypto industry and protect investors.
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• Filipe SousaNov 14, 2020 · 5 years ago
  Under the new laws, crypto exchanges need to implement measures such as identity verification, transaction monitoring, and reporting suspicious activities to regulatory authorities. These compliance measures aim to prevent money laundering, terrorist financing, and other illicit activities. By implementing these measures, exchanges can create a safer and more transparent environment for cryptocurrency trading. It is important for exchanges to stay updated with the latest regulations and ensure continuous compliance to avoid legal consequences.
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• beya10Dec 09, 2020 · 5 years ago
  As a leading cryptocurrency exchange, BYDFi understands the importance of compliance measures under the new laws. We have implemented a comprehensive compliance program that includes KYC procedures, transaction monitoring, and reporting suspicious activities. Our goal is to provide a secure and compliant trading platform for our users. By adhering to the new laws and regulations, we aim to foster trust and confidence in the crypto industry.
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