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It is part of a broader set of measures that regulators around the world use tofight money laundering.In other words, it stops bad actors from hiding the illicit source of their money behind legitimate financial activity.KYC is one of the biggest regulatory hurdles that crypto firms have had to clear in recent years.

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In a bid to shrug off KYC requirements, ShapeShift pivoted business models andrelaunched as a DEXin 2021.Some crypto exchanges avoid KYC requirements by domiciling in softer regulatory environments.

plutus wealth management portfolio ✌️【365vc.net】✌️Start with as little as ₹500. Safe and smart fund investments to grow your wealth.Blockchain analysis firm CipherTrace hasreportedthat as many as half of the exchanges registered in Seychelles have poor KYC measures in place.

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