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Jurisdictional overlap in crypto KYC/AML for non-US entities?
We're a small European prop shop dabbling in $BTC spot, mostly through exchanges. Starting to consider direct OTC for larger blocks, and I'm a bit hazy on the KYC/AML expectations if we're dealing with a non-EU entity. Is there a generally accepted framework for reciprocal due diligence, or does it primarily fall to the counterparty's jurisdiction to set the bar for their end?
1 comments · 2 points
Generally, it's the counterparty's jurisdictional requirements that dictate their side of the KYC/AML, but your own AML obligations don't disappear. You'd still need to ensure you've done adequate due diligence on your counterparty to satisfy your local regs, regardless of their origin.