Crypto Platforms Clamp Down on KYC Requirements in 2026
The world of cryptocurrency is getting more regulated by the day. In 2026, all major crypto platforms will require their users to undergo thorough Know Your Customer (KYC) verification. This process involves providing personal details such as full legal name, date of birth, government-issued photo ID, and proof of address.
But that's not all - biometric liveness checks are now built into most onboarding flows to prevent identity theft. This is because crypto platforms are treated as financial institutions by regulatory bodies like FinCEN and FATF.
The European Union's MiCA framework has also introduced new authorization and due-diligence rules for Crypto-Asset Service Providers, effective from December 2024. Enforcement has tightened since then, with stricter verification requirements in place.