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Comment Know your customer for Crypto? (Score 1) 24

So when they say banks have to follow current laws does this mean that banks will apply Know Your Customer guidelines and regulations when dealing with these crypto "partners"? I would think crypto and Know your Customer are more mutually exclusive than rules would allow. https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2F... From the requirements : "In the United States, the Financial Industry Regulatory Authority (FINRA) Rule 2090 states that financial institutions must use reasonable diligence to identify and retain the identity of every customer and every person acting on behalf of those customers. In enforcing this rule, these organizations are expected to collect all information essential to knowing their customers. Information deemed necessary for enforcing Know Your Customer Requirements include the Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD)."

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