However, "this time it is different" is the most dangerous phrase in the financial world and recent developments prove it. In February, a decentralized and non-KYC crypto exchange was hacked, losing 409 BTC and 1,728 ETH.
The situation is a timely reminder that while the crypto world is gradually moving towards greater institutionalization, with traditional financial players entering the market, the cybercrime risk isn't going away. Moreover, the regulatory hold is getting stronger, with new rules set to come into force in the EU in a bid to ensure a healthier and more stable environment.
In light of that, CEOs and compliance officers of crypto-engaged companies now have one key priority - to find the right compliance partner to help them prepare for the upcoming regulations and ensure the adequate protection of their operations and clients. More importantly - one that won't burden them with unnecessarily high compliance costs, hindering their growth plans, or sacrificing operational agility.
