Banks’ Customer Due Diligence Obligations and Expectations for Virtual Currency Relationships

Mariel Diaz, CAMS-Audit

The purpose of this white paper is to provide an overview of virtual currency with a focus on how Virtual Currency Exchanges (VCEs) are regulated, whether VCEs are higher or lower risk than traditional MSBs, and what level of due diligence is expected from banks that have VCE customers.

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