PARAGRAPHInnovative new financial services offerings provided, on November 18,and adoption is increasing. Rapid evolution in blockchain technologies are expected to draw the majority of consumer and investment. KPMG is actively working with crypto-native and traditional FSIs to activities that run afoul of programs for their digital asset-related.
This article aims to describe the challenges that face the crypto-assets and Blockchain industries on a Compliance perspective, especially the AML and KYC aspects, and potential requirements for the implementation of a regulation. This situation raises the question of how far the GDPR can be made applicable Anonymity may not survive the recent push for more regulation, but the permissioned sharing of some customer information may well benefit the financial ecosystem and make it more appealing to industries that have avoided Blockchain so far. On the other hand, part of the attraction of cryptoassets is avoiding the need for a central register and institution, enabling safe and simple transactions between two parties without an intermediary which will support developments of new services in custody, trading solutions, crypto-asset term deposit, credit lines, etc. No, membership is not a required to register for the program. Banks need to be cautious and make sure they're following protocols when offering services to crypto firms and clients dealing in digital assets, regulators say.
