G20 wraps Crypto With Acrid KYC Norms

G20, the group of 19 big nations and the European Union, imposing stricter know-your-customer (KYC) procedures on cryptocurrency exchanges and related businesses. This made many crypto industry expert to term the move as draconian and this undesirable from a privacy perspective. Also the inter-governmental Financial Action Task Force on Money Laundering (FATF) met with representatives from the cryptocurrency industry on May 6th and 7th this year in Vienna.

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