Too Long; Didn't Read
AEOI/CRS, AML/KYC/CFT AND FATCA are all acronyms used in the crypto world. Cryptography of Anonymous Electronic Cash emerged long before Satoshi Nakamoto published a white paper to the Metzdowd.com cryptography mailing list. KYC laws were established back in 2001 as part of the Patriot Act, which was adopted after 9/11 to provide a variety of means to deter terrorist behavior. By implementing KYC/AML methods, the company or any other financial institution thrive to avert data fraud, monetary extortion (Money-laundering), illegal tax avoidance and terrorist funding.