Why Compliance is important in Crypto domain ?

When we are investing and trading in crypto currencies, it is important to understand the compliance.

Over the last few decades, regulators around the world have actively been working on anti-money laundering laws and regulations. The subject of regulation are oftentimes organizations and business, such as banks and financial institutions, but are also aimed at industrial corporation, retailers, and many other types of businesses.

A failure to comply with AML laws and regulations can have serious consequences including punitive fines, criminal proceedings, damaged reputations and sanctioning – all crystal clear motivations to justify efforts of AML compliance.
All the consequences listed above can lead to serious damage to an organizations credibility and performance. Becoming a sanctioned party due to breaches of AML laws and regulation can be even more damaging. Becoming sanctioned by one or more global bodies considerably reduces, if not halts, an organization’s ability to provide for and cater to its international customers’ needs for performing global transactions.
Crypto currencies pose a bigger challenge before the investors.