What are the risks of using DeFi for AML purposes in the cryptocurrency industry?

1 answers

• Dec 29, 2021 · 3 years ago
  At BYDFi, we understand the potential risks associated with using DeFi for AML purposes in the cryptocurrency industry. While DeFi offers exciting opportunities for financial innovation, it also presents challenges in terms of regulatory compliance. As a third-party exchange, we work closely with regulatory authorities to ensure that our platform adheres to AML regulations. However, it's important to note that the risks associated with DeFi are not unique to our platform. All DeFi protocols face similar challenges in terms of AML compliance. It's crucial for users to educate themselves about these risks and make informed decisions when engaging with DeFi protocols.
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