Thoughts on managing emerging market regulatory shifts for crypto exchanges?
Been pondering the compliance minefield particularly for those of us operating crypto exchanges in, or serving clients from, developing economies. It feels like we're constantly playing whack-a-mole with new directives, especially around AML and source of funds for larger transactions. What are the general strategies folks are finding effective for staying ahead of, or at least quickly adapting to, these often-unannounced regulatory changes? Is it all about local counsel on retainer, or are there more proactive tech solutions being leveraged to automate some of this jurisdictional variability? Seems like a never-ending sprint trying to keep our KYC/KYB frameworks robust enough without totally bottlenecking onboarding. Interested in hearing how others are navigating this, especially with the velocity of change we're seeing in places like LatAm and SE Asia. Any particular pain points or unexpected solutions you've come across?
It's definitely a moving target, isn't it? One thing I've seen work well is having a dedicated small team focused solely on regulatory intelligence and forecasting, rather than just reacting. Does anyone here have experience with that model?