Deterring adoption? Balancing security and innovation in crypto By Cointelegraph

The cryptocurrency area strikes quickly, a lot in order that yearly, there’s a brand new pattern: from preliminary coin choices (ICOs) to nonfungible tokens (NFTs) only some years have handed. In the face of such astounding innovation, crypto corporations and regulators face a rising problem: balancing security practices with new merchandise and options.

Some corporations’ method is to maneuver quick and undertake new improvements as they develop into obtainable, leaving security processes similar to Know Your Customer (KYC) and Anti-Money Laundering (AML) checks as a secondary goal. Popular cryptocurrency change Binance seemingly used this technique up till this yr when regulators began cracking down.