Cryptocurrency Anti-Money Laundering (AML) and Know-Your-Customer (KYC) Management System Standard—Requirements

There has been significant discussion in the cryptocurrency and digital asset industry regarding the development of global standards to mitigate fraud and money laundering. However, no such standards have as yet been developed. As a research project, this document is the (edited) first draft of a proposed AML/KYC management standard. It defines management’s obligations with respect to customer onboarding and transaction monitoring, similar to existing national regulations in the fiat banking industry, as well as the travel rule. It follows the structure and style of ISO 27001. Firms could potentially be audited for adherence to a global standard such as this (among potentially others) as a way of signaling their trustworthiness