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DeFi execs on the World of Web3 (WOW) Summit in Hong Kong argued that implementing “Know Your Buyer” (KYC) measures will deal with the “largest subject” in decentralized finance (DeFi), which is hackers laundering tens of millions of stolen funds into “clear cash.”
Throughout a panel session on the summit on March 29, titled “Blockchain Safety to Sensible Compliance: AML & KYC Options in DeFi,” business leaders endorsed KYC in DeFi as an answer to deal with Anti-Cash Laundering (AML) points.
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