On AML and crypto exchanges — how do you vet newer platforms?

I'm still wrapping my head around the nuances of AML compliance for crypto. It seems like the regulatory landscape is constantly shifting, especially with smaller, newer exchanges. When you're looking at potentially using or recommending one of these platforms, what are the key due diligence points you focus on regarding their AML framework, beyond just the basic registration? I find myself feeling a bit overwhelmed by the varying global standards.