Only 14 percent of the largest cripture is license control

Representatives of startup Coinfirm has published a new report dismal figures. As it turned out, only 14 percent of the 216 tested kryptomere was licensed by regulators. In Coinfirm tried to identify the key risks of each site and also help supervisors in developing the necessary regulatory framework. Studied on exchange in fact accounts for more than 90 percent of kriptologii.

Exchange was tested for the seven risk categories, including licensing and necessary permits, maintain a policy of customer due diligence (CDD) and KYC, as well as the requirements for anti money laundering (AML). In addition, they were examined on the subject of sanctions, social activities, jurisdiction and background information to the media.

The study showed that 69 percent of the exchanges do not fully meet the requirements of CDD and KYC, while only 26 percent are taking action AML transaction monitoring or the formation of the staff responsible for these activities. While 40 percent of the platforms do not support Fiat currency and cryptocurrency. Of the remaining 60 percent, where there is a possibility of exchange of Fiat to cryptocurrency, only 23 per cent responsible approach to KYC. Basically, it refers to the exchanges, where deposits and withdrawals supported in both Fiat and cryptocurrency.

The average cumulative risks of kryptomere countries. Source: Coinfirm

The report Coinfirm also shows the average cumulative risks associated with the activities of the exchanges in a particular jurisdiction.

  • The least risky countries were Australia, Norway, Sweden, Finland, Germany and Switzerland.
  • Countries with a high risk — Russia, Belarus, Ukraine, Iran and some African countries.
  • To countries with moderate risk include the US, Canada, UK, Brazil, China, India and Saudi Arabia.

More data look at cryptodata.

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