KYB for non-traditional business structures in fintech
Been pondering the nuances of KYB for entities that don't fit the neat 'corp' or 'LLC' boxes. Specifically, how are fintechs robustly handling the identification and verification of ultimate beneficial owners (UBOs) for decentralized autonomous organizations (DAOs) or more informal collective investment vehicles? The legal structures are often ambiguous, varying significantly across jurisdictions, and the UBOs can be fluid or pseudonymized. It's not just about ticking a box for a registered entity; it's about real risk assessment. Are most just avoiding these types of clients, or are there sophisticated, scalable solutions emerging that don't involve a mountain of manual review for every new application? Seems like a growing headache that traditional KYB frameworks aren't quite built for.