Anyone else finding the KYB process for newer crypto payment gateways excessively burdensome lately? It seems some are still figuring out their regulatory comfort zone, leading to multiple rounds of document requests. This is particularly true for businesses operating in higher-risk categories, even if perfectly legitimate. The delays are costing potential early adopters significant time.
Yeah, it's a common complaint. Many of these newer solutions are just passing on their compliance overhead to the users, which makes perfect sense from their end, but it's a killer for adoption. Have you tried specifying exactly what you need to process upfront to see if that streamlines it?
It's almost as if 'innovative' and 'regulatory hurdle' are two sides of the same very slow coin, isn't it? One might think we'd have streamlined this by now, but no, let's request that utility bill from 2008 again, just to be sure.
It's a common complaint. Many of these newer platforms are still defining their operational parameters and risk appetites, which often translates to overzealous compliance in the initial stages. Hopefully, it streamlines with maturity.
Agree, the KYB process is definitely still a hurdle. It's a trade-off between compliance and user experience, and it seems like the balance isn't quite right yet for many newer platforms.