What is KYC / AML?

KYC / AML stands for “Know Your Customer / Anti Money Laundering.” KYC and AML guidelines are followed by banks, insurers, broker-dealers, cryptocurrency exchanges, and other such entities.

What is crypto KYC & how does it work?

This is a standard identity verification that major exchanges require for anyone who wants to trade crypto. The sooner you complete KYC, the sooner you'll be able to make cryptocurrency purchases and withdrawals. In this guide, you'll find out exactly what KYC is, how the process works, and alternative ways to buy crypto.

Can you buy cryptocurrency without KYC?

KYC in crypto is a legal obligation in most jurisdictions. Therefore, most crypto service providers do not allow their customers to buy cryptocurrency or withdraw funds until they pass a KYC check. However, there are still some crypto services that allow clients to trade without passing KYC.

Do crypto businesses need to comply with AML regulations?

In many countries, crypto businesses need to comply with AML regulations. This means applying Customer Due Diligence (CDD) procedures which, among other things, include Know Your Customer (KYC) checks. KYC checks aim to identify and verify clients before allowing them access to services, or conduct occasional transactions.