Decentralised protocols & AML/CFT
Users that rely on keyring to prove AML/CFT from third parties will generally be fully decentralised protocols that assess that they outside of the guidance of regulated activities and as such have no centralised control point or entity or person that can perform a continuous monitoring task. These entities often want to still do their best by tackling the worst ills of humanity such as terrorism, drug and people trafficking so they implement keyring in a fully decentralised infrastructure format that does the best that they can given their decentralised nature.
We get asked regularly if keyring can be compliant and the answer is 💯
Actually, we can support all FATF recommendations with explicitly nods towards the FATF recommendations 10 & 17.
We see a lot of interest in this topic right now and so here’s what we share new users when they reach out…
INSIGHT: SEC Commissioner Hester Peirce calls for a rethink of KYC and AML oversight.
She argues the "more data, the better" approach creates haystacks too big to find needles, and that zero-knowledge proofs could verify compliance without exposing personal data.
@haydenzadams@ComputerPoet@HesterPeirce The problem with permissioned pools is that they require unnecessary PII to be sent over archaic KYB/C processes. When in fact you send the same information in a secure fashion that respects FATF recommendations and US requirements
🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.
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Hold, trade or pair them. Imagine the endless realities: web3.bitget.com/en/blog/articl…
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