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S&P Global's Compliance Solutions for Crypto Providers
Tailoring an Offering for a New and Critical Industry
With the growing adoption of cryptocurrencies and crypto-based assets, the crypto ecosystem and its participants are coming under greater scrutiny from regulators, political authorities, and the public at large. Institutions facilitating crypto transactions will be required to perform know your customer (KYC) and customer due diligence (CDD) not only to ascertain the identity of their customers but also that of beneficial owners and also to conduct transaction monitoring.
S&P Global recently briefed Celent about its newly launched Regulatory Compliance & Due Diligence offering for the crypto market. This solution brief summarizes key takeaways from the briefing including:
- Its ability to provide full life cycle support across KYC, tax and third party risk management
- Its inclusion of broader onboarding and compliance functions
- Its wide suite of offerings including data, technology, and managed services
- Its global scale, long history, and demonstrated expertise in serving capital markets firms
Given the current environment, Celent expects high regulatory
scrutiny on this segment to persist in the near to medium term,
which bodes well for compliance solution providers such as IHS
Markit.
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