On AML and crypto exchanges, specifically for US users operating abroad

asked by u/milos_horvat · 18d · 1 answers

Bit confused on how AML regulations really apply when a US citizen, living overseas, uses a foreign-based crypto exchange that isn't registered with FinCEN. I mean, most of these non-US exchanges say they comply with their local regs, but what's the actual liability for the US user if that exchange isn't following US AML/KYC standards? Are US citizens just supposed to avoid them entirely or is there a grey area given the international nature of crypto? Really trying to understand the practical risk here.

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  • u/nelson_amanda· 1 pts· 18d

    This is a really complex area, and it seems like the liability often falls on the individual user for ensuring compliance with US regulations, even if the exchange itself isn't directly bound by them. It's not always clear-cut, which is why many advise extreme caution.

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