{"id":494542,"date":"2022-09-20T13:19:00","date_gmt":"2022-09-20T10:19:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why\/"},"modified":"2022-09-20T13:19:00","modified_gmt":"2022-09-20T10:19:00","slug":"enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why\/","title":{"rendered":"# Enhanced KYC checks can be a win-win for crypto exchanges and consumers \u2014 here&#8217;s why"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2eaa407c3f6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2eaa407c3f6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why\/#%E2%80%9D_Enhanced_KYC_checks_can_be_a_win-win_for_crypto_exchanges_and_consumers_%E2%80%94_heres_why_%E2%80%9C\" >&#8221; Enhanced KYC checks can be a win-win for crypto exchanges and consumers \u2014 here&#8217;s why &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why\/#The_business_case\" >The business case<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why\/#How_does_enhanced_KYC_work\" >How does enhanced KYC work?\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Enhanced_KYC_checks_can_be_a_win-win_for_crypto_exchanges_and_consumers_%E2%80%94_heres_why_%E2%80%9C\"><\/span>&#8221; Enhanced KYC checks can be a win-win for crypto exchanges and consumers \u2014 here&#8217;s why &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f><a rel=\"nofollow noopener\" target=\"_blank\" href=\"www.trulioo.com\/industries\/cryptocurrency\"><img loading=\"lazy\" decoding=\"async\" width=\"1480\" height=\"200\" alt=\"Trulioo\" src=\"https:\/\/s3.cointelegraph.com\/storage\/uploads\/view\/2bff460e3ca0a77c74c442d130b42d7c.jpeg\" title=\"Trulioo\"><\/a><\/p>\n<p><strong>Crypto is a fast-moving sector where new trends \u2014 decentralized finance and nonfungible tokens among them \u2014 accelerate in the blink of an eye. And as demand for digital assets grows, the need for regulation grows too.\u00a0<\/strong><\/p>\n<p>Anticipating those regulations and having the systems in place for future compliance can position crypto exchanges as industry leaders. Those that do the bare minimum risk falling behind as customers turn to more trusted options.<\/p>\n<p>Exchanges, though, can adopt a substantial role in setting the regulatory tone by taking the initiative to go beyond compliance and better protect their users. That can help a business build a reputation for security and deliver a compelling point of difference from the competition. More than that, it can show regulators how policies can work in practice.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_business_case\"><\/span>The business case<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prioritizing adaptable, futureproof solutions can make it easier for exchanges to expand quickly into new markets. It can help them control operating costs, reduce risks and enhance the customer experience.<\/p>\n<p>Beyond helping crypto exchanges achieve compliance, identity verification <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> that draws from hundreds of global data sources can accelerate onboarding, offering the right balance between security and friction. Onboarding customers quickly and safely can give exchanges the competitive edge they need in a market that gets more crowded with every crypto bull run.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.trulioo.com\/industries\/cryptocurrency\">Trulioo<\/a>, an identity verification service that enables exchanges worldwide to quickly and securely onboard customers, is helping crypto platforms achieve their full potential in a constantly shifting market.<\/p>\n<p>Fast, accurate digital identity verification can help exchanges build trust and safety while quickly expanding their customer base, the company says. Enhanced Know Your Customer (KYC) checks can help exchanges scale more quickly. By knowing exactly who their customers are and establishing the provenance of funds, exchanges can position themselves to adapt to future regulation changes.<\/p>\n<p>&#8220;Regulation is a hot topic in the crypto space and one of the reasons we\u2019re seeing so many crypto exchanges looking to partner with us,&#8221; Trulioo CEO Steve Munford told Cointelegraph. &#8220;Working with a platform such as Trulioo can help exchanges stay ahead of the curve and remain compliant while preparing for tighter regulations that might be on the horizon.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_does_enhanced_KYC_work\"><\/span>How does enhanced KYC work?\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Conventional KYC measures can limit the number of people an exchange can verify, especially if it requires a passport, driver&#8217;s license or bank account. By contrast, Trulioo offers validation in more than 195 countries and against more than 400 reliable data sources \u2014 including mobile networks, credit bureaus, banks, governments and business registers. It&#8217;s also possible to authenticate new users with the help of a selfie.<\/p>\n<p>Trulioo recently acquired the no-code orchestration solution HelloFlow to accelerate digital onboarding and unveiled major product updates that include document-free proof of address verification. In another significant development, company executives said they achieved unicorn status after a $394 million <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> D funding round.<\/p>\n<p>Trulioo wants to help exchanges navigate the choppy waters of regulation now and in the future with fast, secure and accurate KYC and Anti-Money Laundering crypto checks.<\/p>\n<p>That <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach can help crypto businesses bolster their infrastructure to ensure they&#8217;re ready when the next bull run brings a new wave of customers to exchanges.<\/p>\n<div style=\"background-color: #f0f0f0; padding: 8px 21px; font-weight: bold; color:#253137;\">Learn more about <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.trulioo.com\/industries\/cryptocurrency\" style=\"color: #253137\">Trulioo<\/a><\/div>\n<div id=\"post-content\">\n<p><span style=\"font-size: 12px; color: rgb(169, 169, 169);\"><span style=\"font-weight: 600\">Disclaimer.<\/span> Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice. <\/span><\/p>\n<\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/enhanced-kyc-checks-can-be-a-win-win-for-crypto-exchanges-and-consumers-heres-why\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Enhanced KYC checks can be a win-win for crypto exchanges and consumers \u2014 here&#8217;s why &#8220; Crypto is a fast-moving sector where new trends \u2014 decentralized finance and nonfungible tokens among them \u2014 accelerate in the blink of an eye. And as demand for digital assets grows, the need for regulation grows too.\u00a0 Anticipating&#8230;<\/p>\n","protected":false},"author":1,"featured_media":494543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy85ZDJjNDZmMjM1ZmJhYzgwMzhlMGRlY2I3MWI5ZTc3YS5qcGVn.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74868,76174,75141,95118,86676],"class_list":["post-494542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-defi","tag-identity","tag-kyc","tag-nft","tag-verification"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/494542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=494542"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/494542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/494543"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=494542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=494542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=494542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}