KYC/AML for smaller CFD brokers in emerging markets

Been thinking a lot lately about the increasing burden of KYC/AML, particularly for smaller CFD brokers trying to operate in emerging markets. It seems like the regulatory landscape is shifting so rapidly, and the costs associated with robust compliance are just skyrocketing. For a larger entity, it's baked into the cost of doing business, but I'm curious how smaller, more agile firms are navigating this. Are we seeing a consolidation simply because the compliance overhead is too high for independent players? Or are there innovative tech solutions out there that are genuinely affordable and effective for scaled-down operations, especially when dealing with a diverse range of jurisdictions where local laws can vary wildly? It feels like a genuine bottleneck for growth in certain regions.