Money-to-crypto business leaders have introduced the formation of the Cryptocurrency Compliance Cooperative (CCC).
Founder members embody Bitcoin ATM (BTM) operators DigitalMint and Coinsource, in addition to blockchain evaluation platform Chainalysis, amongst others. The mission of the collaborative affiliation is to create a safer atmosphere for customers by legitimizing the cash-to-cryptocurrency business. They hope to attain this by bolstering compliance requirements that many at the moment take into account inadequate.
“Whereas a small variety of Bitcoin ATM operators go above and past with know your buyer (KYC) and anti-money laundering (AML) protocols, others within the cash-to-crypto business merely flip a blind eye and are complacent to those dangerous actors by merely making use of the naked minimal buyer protections, which in lots of instances permit for utterly nameless transactions,” said DigitalMint Director of Compliance Seth Sattler, a number one contributor of the Cryptocurrency Compliance Cooperative.