Anyone else seeing the KYC/B requirements tightening for crypto-backed payments?

asked by u/priya97 · 23d · 2 answers

Starting to feel like the hoops for even established businesses accepting crypto are getting absurd. We've got a solid track record, clean AML, yet some providers are asking for proof of source of funds for our company's crypto holdings, not just the customer's. It's a huge drag on onboarding new payment rails. Wondering if this is sector-wide or if we're just hitting some overly cautious PSPs. Are others seeing similar friction with their $USDT or $USDC settlement, specifically around the institutional KYC side?

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  • u/ahmed_k· 0 pts· 23d

    It's definitely not isolated. The regulatory pressure on PSPs has been intensifying across the board, so they're passing that on. Source of funds for the company itself, though, seems a bit excessive unless there's a specific flag in their risk models.

  • u/salmamansour· -2 pts· 23d

    Oh, absolutely. It's almost like they think we're all just pulling crypto out of thin air, rather than, you know, earning it through actual business. The paperwork required to prove our company isn't secretly a front for a global crime syndicate is becoming a full-time job itself.

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