Our view on compliance
As the world begins to adopt cryptocurrency, it’s clear that mass adoption is only possible if governments and corporations embrace the use of cryptocurrency. We have already undertaken measures to ensure we remain open and transparent, being the first to embrace KYC and AML regulations.
One major step
In 2018, Electroneum became the world’s first cryptocurrency to embrace KYC and AML measures in compliance with the 5th EU Anti-Money Laundering Directive. This in turn, is enabling us to work with governments and corporations, who are helping us to introduce Electroneum to a worldwide community.
How it works
We partnered with Yoti, a specialist in ID verification, who helped us to embed their solution into the Electroneum app. Upon a new user registering, they will go through an ID verification process identified for that individual. The process is completed in three tiers dependant on the user’s location, size of holdings and usage.