Today there are a number of factors that directly and indirectly indicate that the modern model of compliance does not fit well in a decentralized world. Almost all of the crypto currency exchange have a similar target audience. Users wishing to trade cryptocurrencies, usually was on several of them. Therefore, the information is duplicated in the same regulatory bodies. Such a model of interaction between users, stock exchanges and government agencies are cumbersome and complex. Can the crypto-industry propose a workable and effective alternative to the established system of compliance understand the material.
Why customers don’t like the current system?
Scheme showing the transmission of data to regulatory authorities. Source.