Are non-KYC crypto exchanges as safe as their KYC-compliant peers?
Cointelegraph
Published Aug 20, 2022 08:00AM ET
Updated Aug 22, 2022 10:20AM ET
Many see implementing Know Your Customer (KYC) tools in crypto as a deterrent to the Bitcoin (BTC) Standard, which has predominantly promoted anonymized peer-to-peer transactions. However, regulators stay put on promoting KYC and Anti-Money Laundering (AML) implementations as a means to ensure investors’ safety and protection against financial fraud.
While most crypto exchanges have begun implementing regulatory recommendations to remain at the forefront of crypto’s mainstream adoption, investors still have the choice to opt for crypto exchanges that promote greater anonymity by not imposing KYC processes. But, does opting for the latter as an investor mean compromising on safety?
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Written By: Cointelegraph
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