KYC and Regulation: Solving the Problem of Financial Crime in Crypto

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Many specialists believe that the introduction of strict KYC procedures and crypto regulation would solve the financial crime problem. Is it correct though?

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Crypto regulation in general and KYC specifically are believed to solve the problem of financial crime in crypto. The financial system doesn’t catch up with the technology development, and the lack of a coordinated framework is the reason for the high level of criminal activities.