What measures does the Cyprus Securities and Exchange Commission take to prevent money laundering in the cryptocurrency industry?

1 answers

• Dec 25, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi takes money laundering prevention seriously. We comply with all relevant regulations, including those set by the Cyprus Securities and Exchange Commission (CySEC). To prevent money laundering in the cryptocurrency industry, BYDFi has implemented stringent KYC procedures, which require users to provide identification documents and undergo verification processes. We also monitor transactions for suspicious activities and report any potential money laundering activities to the appropriate authorities. By working closely with CySEC and other regulatory bodies, we strive to maintain a safe and secure trading environment for our users and prevent illicit activities in the cryptocurrency industry.
  745373