Only 14 percent of the world's 216 cryptocurrencies or exchanges are currently licensed by regulators. He claims this in his 27 March startup Coinfirm report.

Coinfirm is a London based regulatory company for digital currencies and blockchain. As part of her study, she dealt with 216 world stock exchanges, which she believes account for 90% of the worldwide cryptanalysis activity.

Coinfirm has included cryptocurrencies in seven risk categories with respect to licenses and authorizations, compliance with CDD, KYC, AML, sanctions, senior officials and jurisdictions, and negative and adverse media.

The study found that 69 exchanges do not have fully transparent CDD and KYC procedures (know their client), while only 26 percent have introduced AML (money laundering) procedures, such as transaction monitoring or recruitment to monitor the potential risk of laundering. money through the stock exchange.

Coinfirm also found that 40% of analyzed exchanges do not support fiat currencies and allow exchanges only between cryptocurrencies . Of the remaining 60% that support the exchange between cryptocurrencies and fiat currencies, only KYC has met 23%.

Regarding the country-specific risk of stock exchanges, Coinfirm stated that Australia, Norway, Sweden, Finland, Germany and Switzerland were among the least at risk. Russia, Belarus, Ukraine, Iran and many African countries are at high risk. The United States, Canada, the United Kingdom, Brazil, China, India and Saudi Arabia have been rated as medium-risk countries.

Monero and Zcash Problems for Binance?
Interestingly, according to this study, Binance's largest cryptocurrencies exchange was rated to be very risky due to long-term support for anonymous cryptocurrencies such as Monero and Zcash. He also added that Binance is changing jurisdictions (currently in Malta), causing potential regulatory arbitrage.

It is questionable to what extent Binance was aware of the findings of this study, but the fact is that the company just announced this week to work with IdentityMind to strengthen its risk management and compliance area with KYC and AML.

At the same time, Binance, according to The Tie and Bitwise Asset Management, is one of only a few large cryptocurrencies exchanges that seem to indicate real volume. The Bitwise Asset Management study even suggests that Binance is the only unregulated stock exchange from the first 10 stock exchanges without bogus bitcoin volume trading.

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