Decentralized cryptocurrency exchange CryptoBridge, developed on the Bitshares platform, announced yesterday it has just implemented a mandatory know your customer (KYC) process.
According to the official announcement, the decentralized crypto trading platform has made this decision to comply with the 5th EU Anti-Money Laundering Directive (AMLD5).
From now on, all CryptoBridge users must pass a verification process to make deposits and withdrawals on the platform. According to the exchange, its objective is "to protect customers and CryptoBridge from being held responsible for any illegal intentions or money laundering activity."
According to the platform, the introduction of the AMLD5 not only creates a legal status for crypto assets, but also enables them to become viable and legitimate financial networks. It also facilitates the listing of security tokens on CryptoBridge.
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