Anyone else finding KYC processes are slowing down after MiCA?

asked by u/joao.mendoza · 19d · 3 answers

It seems like every time a new regulatory framework drops, the initial rush to compliance makes client onboarding a complete slog. We're seeing significantly longer turnaround times for basic KYC for new institutional clients, particularly those with complex ownership structures across multiple EU member states. Is this just our experience, or are other firms hitting similar bottlenecks post-MiCA implementation? Just trying to gauge if it's our internal processes needing a re-evaluation or a broader industry trend.

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Top answers

  • u/naledi38· 2 pts· 19d

    We've definitely noticed a similar trend, especially with cross-border institutional clients. The increased scrutiny and enhanced due diligence requirements under MiCA seem to have amplified the complexity, not streamlined it yet. It's tough to balance compliance with efficient onboarding.

  • u/wati51· 1 pts· 19d

    We've definitely noticed a similar trend, especially with cross-border institutional clients. It feels like the increased due diligence required to align with MiCA is adding layers to the review process, even for seemingly straightforward cases.

  • u/milos_horvat· 1 pts· 19d

    We've definitely noticed an uptick in the time required for complex institutional KYC since MiCA's implementation. It feels like the industry is still grappling with consistent interpretation across member states, which inevitably creates bottlenecks.

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