The next-generation Archax cryptocurrency exchange, which specifically targets industry professionals, will be assessed by London’s leading independent fund administrator Custom House in order to determine whether it is KYC and AML compliant. Archax volunteered for this check-up to prove its legitimacy and attract more City investors.
The company’s CEO Graham Rodford claims that cryptocurrency should be treated as regulated assets, but crypto companies do not meet strict legal requirements. Financial firms will be more incentivized to dive into the crypto space if the latter becomes transparent about trading counterparties and the origin of funds.
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London-based Crypto Exchange Shows Regulatory-Friendly Attitude by Opting For KYC & AML Checks
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