5AMLD – What it means for crypto businesses

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The new 5AMLD regulations and what they mean for your crypto business.

The current 5AMLD regulatory perimeter for AML/CFT controls expressly brings providers of exchange services between Fiat and Virtual currencies under enhanced EU regulations.

The new rules cover both providers related to the exchange of money for cryptocurrency as well as e-wallet solutions.

With the increase in 5AMLD compliance requirements, many crypto exchanges have either left the European region or closed their doors all together.

The process of verifying individuals (KYC) can be a significant burden for organisations with no current processes in place or who are concerned about how complex it is to implement and monitor.

At 123signed we take away all your worries regarding KYC and AML monitoring with our real-time, fully automated consumer onboarding platform. Our online application form enables you to verify your client’s identity and AML checks in one seamless process. Drop us a line at info@123signed.com and we’ll show you how easy it is to be compliant with the new regulations.

To find out how 123signed can support your business, contact us here.

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