A new customer cap is a regulatory restriction or internal policy that limits the number of new clients a financial institution or digital asset service provider can onboard within a specified period. This measure is typically implemented to manage risk, ensure compliance with regulatory requirements, or control growth during periods of heightened scrutiny. It can affect market access and the expansion strategies of crypto businesses. Such caps can also be a response to operational constraints.
Context
New customer caps can significantly impact the growth and market reach of digital asset platforms, particularly when imposed by regulators due to concerns over compliance or systemic risk. News related to these caps often signals increased regulatory oversight or challenges faced by platforms in meeting compliance standards. Monitoring these restrictions provides insight into the operational environment for crypto service providers.
State action formalizes kiosk compliance, requiring operators to integrate robust AML/fraud controls and secure a $500K surety bond to mitigate consumer risk.
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