FATF KYC: What It Means for Crypto Users and How It Affects Your Trades
When you hear FATF KYC, the global financial watchdog’s rules forcing crypto platforms to verify user identities. Also known as Know Your Customer, it’s not just paperwork — it’s the reason some exchanges ban users from certain countries and why you can’t swap privacy coins like Monero on most platforms anymore.
The FATF, the Financial Action Task Force, a Paris-based group that sets global anti-money laundering standards doesn’t have police powers, but its rules are enforced by banks and governments worldwide. If an exchange doesn’t follow FATF KYC rules, it gets cut off from traditional banking — meaning no USD deposits, no fiat withdrawals, no survival. That’s why even small platforms now ask for your ID, selfie, and proof of address. It’s not because they’re suspicious of you — it’s because they’re scared of being shut down.
This affects you directly. If you used to trade on no-KYC platforms like XBTS.io, you’ve probably noticed fewer options. The anti-money laundering, rules designed to stop criminals from using crypto to hide illegal money now apply to everything from airdrops to decentralized exchanges. Even if a project claims to be "private," regulators are pushing exchanges to block transactions linked to privacy coins like Monero and Zcash — which is exactly why the EU plans to ban them by 2027. Your wallet isn’t just yours anymore; it’s under surveillance.
What’s left? A split in the crypto world. One side follows FATF KYC — big exchanges like HTX and BitAsset, where you can deposit fiat but must hand over your documents. The other side tries to escape it — platforms that vanish, scams that promise "no KYC," or tools like blockchain analysis that trace every move. The truth? If you want to trade safely, you’ll need to accept some level of identity verification. The alternative isn’t freedom — it’s risk, loss, and scams like Tokenmom or BitAI that disappear overnight.
Below, you’ll find real reviews and breakdowns of exchanges, coins, and airdrops that either comply with FATF KYC or fight against it. Some are safe. Some are traps. All of them are shaped by these rules. You don’t need to like FATF KYC — but you need to understand how it’s changing your crypto experience right now.