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Academy Article



As part of a commitment to fight terrorist financing, money laundering and other illicit activity, financial services companies must check that a customer is who they claim to be. These checks — also known as Know Your Customer verifications — involve a customer proving their identity using a government-issued document.

The regulations that impose KYC verification checks are often referred to as AML (i.e., anti-money laundering) and CTF (i.e., combating terrorist financing) measures. The Financial Action Task Force sets global standards. National and supranational agencies, such as Europe’s EBA, the U.S.’s OCC, Russia’s FSFM and Singapore’s MAS, develop and enforce regulatory frameworks at a more local level.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.