Post
Topic
Board Bitcoin Discussion
Re: Crypto thefts, fraud hit $1.2 billion in Q1 report
by
alexcopper
on 06/06/2019, 21:21:06 UTC
I still can't wrap my mind around why people wouldn't want to have compliance with AML and KYC to better help that this doesn't happen

The first part of your post was OK. But the second part shows your complete ignorance towards the basics of cryptocurrency. How KYC is going to prevent the exchange hacks? Most of the exchanges which were targeted by the hackers were KYC compliant. Cryptopia is a perfect example. On the other hand, BTC-e / Wex.nz which went without any mandatory KYC requirement survived for more than 7 years, before closing down due to unknown reasons.

What are your thoughts on having both KYC and AML complinace for exchanges?