“No KYC” Crypto Cards Tap Corporate Issuing Loopholes

Why This Matters

Why this matters: Finance leaders face increased compliance risk and potential regulatory scrutiny as unvetted crypto payment instruments exploit gaps in AML/KYC enforcement frameworks.

"No KYC" Crypto Cards Tap Corporate Issuing Loopholes

Cryptocurrency spending cards marketed as "no KYC" (know-your-customer) are exploiting regulatory loopholes in corporate card issuing, with some services explicitly promoting their use for sanctions evasion and privacy purposes. These offerings raise significant compliance and financial crime concerns, as they circumvent standard anti-money laundering and identity verification requirements that typically apply to payment card issuers in the United States.

Key Takeaways

Cryptocurrency spending cards marketed as "no KYC" (know-your-customer) are exploiting regulatory loopholes in corporate card issuing

some services explicitly promoting their use for sanctions evasion and privacy purposes

They circumvent standard anti-money laundering and identity verification requirements that typically apply to payment card issuers in the United States

Affected Workflows

AuditTreasuryVendor Management

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