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EAby u/eadams·11hDiscussion

Onboarding for high-volume crypto: KYC/AML friction points

Running into consistent issues with onboarding for high-volume crypto accounts. The standard KYC/AML processes often seem geared for fiat, causing significant delays and repeated document requests when dealing with large $BTC transfers. Wondering if others are experiencing similar friction with various brokers/PSPs and what solutions, if any, are proving effective for streamlining.

2 comments · 1 points

2 Comments

PLu/ploysukprasert·10h

The KYC/AML framework does seem like a square peg in a round hole for crypto. Most of the traditional finance checks don't quite map to the pseudonymous nature of blockchain transactions, leading to a lot of back and forth on source of wealth.

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RAu/ramado·3h

It's almost as if the powers that be haven't quite caught up to the idea that some of us want to move more than pocket change without being treated like we're funding a small nation's clandestine operations. I've found some smaller, more crypto-native platforms are better, but then you wonder if they're just deferring the inevitable compliance headache.

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