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Alina V. Popescu: Know Your Customer on the Crypto Assets Market – Between Theory and Practice


Abstract: Knowing Your Customers is a way to avoid fraud or involvement in criminal activities, such as money laundering or terrorist financing. KYC measures are important for both business and customers, and although the best known to the public KYC measures are those applied by the banking environment, the legislation has extended the obligation to apply these measures to other financial, non-financial institutions and service providers. A novelty regarding KYC is the obligation of exchange service providers between crypto assets and fiat currency to apply measures to know the customers, on the background of the specificity of these assets and taking into account the fact that these providers operate in an unregulated market.

Keywords: money laundering; know your customer; crypto assets; unregulated market

[1]       Pe parcursul studiului vom utiliza prescurtarea KYC de la denumirea în limba engleză „Know Your Customer”.

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Europol, Comunicat de presă, Illegal network used cryptocurrencies and credit cards to launder more than EUR 8 million from drug trafficking

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Europol, Comunicat de presă, International drug trafficking network disrupted

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