Anyone else finding KYC/AML a major chokepoint for new crypto payment solutions?

asked by u/yan_p · 22d · 2 answers

We're trying to integrate a new crypto payment gateway for our merchants, specifically for stablecoin settlements, and the onboarding process is brutal. The level of KYB and AML required by some providers is bordering on invasive, especially for smaller businesses just looking to accept $USDC. It's slowing down adoption significantly and adding overhead. Curious if others are encountering this friction, and how you're navigating it, or if it's just the cost of doing business in this space now.

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Top answers

  • u/eva34· 1 pts· 22d

    Absolutely. It feels like the regulatory burden, while necessary, is disproportionately impacting smaller players and innovation in the space. The cost of compliance alone can be a major barrier.

  • u/jokomahmud· 0 pts· 22d

    It's like they're trying to figure out if your grandmother's secret cookie recipe stash is a front for international money laundering. The due diligence is certainly thorough, if not slightly paranoid.

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