A compliance program in the digital asset sector refers to a structured set of internal policies, procedures, and controls designed to meet legal and regulatory obligations. These programs address areas such as anti-money laundering (AML), know-your-customer (KYC) requirements, and sanctions screening. Their purpose is to prevent illicit financial activities and ensure adherence to applicable laws. Effective programs mitigate legal and reputational risks for crypto businesses.
Context
The implementation and scope of compliance programs are central to the maturation and broader adoption of digital assets by traditional financial institutions. A key discussion point involves adapting existing financial regulations to the unique characteristics of blockchain technology and decentralized finance. Regulatory bodies worldwide are actively developing new frameworks, requiring crypto entities to continuously update and strengthen their adherence measures to operate lawfully.
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