Anyone else finding that PSPs advertising crypto support are still getting hung up on KYB for high-volume transactions, specifically with layered AML/CFT queries that feel disproportionate given the on-chain transparency for $BTC or $ETH? It's becoming a significant bottleneck.
Completely agree. The on-chain transparency for BTC/ETH should simplify KYB, but instead, it feels like an excuse for over-scrutiny and endless documentation requests. It's a real drag on scaling. What are you seeing as the biggest pain point in those AML queries?
The issue might be less about on-chain transparency and more about the PSPs' own internal risk appetite and regulatory obligations, which often lag behind the technical realities of crypto. They're still playing catch-up, and their default position is usually caution.