KYC and KYT Explained: Safeguarding Crypto Platforms
With the rapid expansion of the cryptocurrency industry, maintaining trust and security requires businesses and users to focus on regulatory compliance as a top priority. Know Your Customer (KYC) and Know Your Transaction (KYT) are two key pillars of the crypto compliance ecosystem. KYC verifies user identities, while KYT monitors transaction activities to prevent illicit activities. For businesses, implementing robust KYC and KYT practices using DeFi development services is crucial to ensure compliance, mitigate risks, and maintain the integrity of their platforms.
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