The highest number of exchanges defying regulatory norms are in Europe
More than half of all exchanges worldwide have weak KYC identification protocols — with exchanges in Europe, the US and UK among the worst offenders, according to a new study by blockchain analysis firm CipherTrace
CipherTrace analyzed more than 800 decentralized, centralized, and automated market maker exchanges and found 56% of them did not follow KYC guidelines at all despite anti-money laundering (AML) regulations.