Cryptocurrency marketplace and AML regulation adoption

[KYCbench]

 

Year 2019 has started with cumulative market valuation of all cryptocurrencies by approximately $ 417 billion. Before the recent downturn, when it has dropped to below $ 185 billion, representing a dramatic 75% drop, it was around $ 800 billion at the beginning of 2018. Thus, even if the cumulative market cap will be able to rise just 25% from the current situation, it would hit $ 1 trillion. Even though some cryptocurrencies are falling but cumulatively, the market cap increase over the years.

One of the problems in the growth of cryptocurrencies is regulatory concern. If proper regulatory framework, as well as trading mechanisms will not be involved, number of traders, as well as investors in cryptocurrencies, will decrease. This is the reason why many of the governments and authorities all over the world are working on it.

ICO’s bring in fresh capital to the cryptocurrency marketplace. This is the reason why any regulations on the ICO would not only make the process much more transparent but also make the ICOs much more valuable. Once the ICO’s get the approval, they would be valued higher as they would fulfil set out regulatory requirements as well. This is the reason why once a proper framework is in place, ICO market would be able to add more value to the cryptocurrency space, accordingly to CNBC.

In particular, regulation surrounding Anti-Money Laundering (AML) and Know Your Customer (KYC) are complicated to ignore. These are key areas of the traditional financial markets that fight the personal identification issue as well as track source of funds.

If the momentum is supportive and the negative news reduced, most of the cryptocurrencies would rise significantly in the near future. This is positive news for most of the cryptocurrency holders as many of them have been trapped since the recent bear market in cryptocurrencies, accordingly to Raconteur.


KYCbench, your reliable KYC partner
www.kycbench.com
GDPR & ISO/IEC 27001:2013 compliant

Please contact KYCbench today, the most reliable ID verification processor at: [email protected]

Join our Telegram Groups:
KYCBench Announcement
KYCBench Community

[Helga]

It depends on the nature of your business. There are many companies working in the market providing KYC/AML Solutions. In terms of flexibility and ease of use, following are the best services available.

Coinsclone – Offer effective enhanced due diligence measure with regards to anti-money laundering development services.
How well suited for your business will depend on the requirements. If you want to explore a bit more of our solution, send me a note and I will be happy to send you more information.

Email: [email protected]

Whatsapp: 91 9500575285

Telegram @coinzclone.