Why do exchanges require identity verification? Don’t panic—the class study rep is here to explain:
The rest of MiCA’s rules apply from December 30, 2024. Service providers already operating in the EU before then can have until July 1, 2026, at the latest to transition, though member states can set an earlier deadline.
KYC and the Travel Rule are mainly intended to make it possible to trace the flow of funds and prevent platforms from being used for illegal activities.
Don’t laugh—I learned this the hard way too.
$BTC 80000.12 (-0.79%)
The rest of MiCA’s rules apply from December 30, 2024. Service providers already operating in the EU before then can have until July 1, 2026, at the latest to transition, though member states can set an earlier deadline.
KYC and the Travel Rule are mainly intended to make it possible to trace the flow of funds and prevent platforms from being used for illegal activities.
Don’t laugh—I learned this the hard way too.
$BTC 80000.12 (-0.79%)
