[Analysis] Despite industry pushback, G20 may impose stricter KYC policy on exchanges - Aaron van Wirdum

Inbound regulations from the Financial Authority Task Force agreed upon by G20 members in Dec. 2018 have the crypto industry up in arms, but little can be done. A recent meeting in Vienna between FATF and crypto industry members showed staunch opposition to the draft regulations expected to be implemented this coming June, the biggest bone being extensive KYC laws for both incoming and exiting transactions above $1,000. Industry experts believe a crypto 'SWIFT' has to be developed in light of the regulations, as exchanges are forced to produce information on demand to authorities. Critiques from firms like Chainalysis may change the final draft, but are unlikely to deter the entire effort.

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