AML Compliance for Crypto Platforms and Virtual Asset Providers
Kycanvas supports customer identity verification and AML screening designed for the regulatory requirements facing virtual asset service providers — FinCEN, OFAC, and FATF frameworks.
The VASP regulatory framework is distinct from banking
Crypto exchanges and virtual asset service providers face regulatory requirements that differ materially from traditional financial institutions — in jurisdiction coverage, Travel Rule requirements, and OFAC screening obligations for virtual currency.
FinCEN MSB Registration
Crypto exchanges operating in the US are required to register as money service businesses with FinCEN and implement a BSA/AML program designed to support compliance with FinCEN requirements for virtual asset service providers.
FATF Travel Rule
FATF Recommendation 16 requires VASPs to collect and transmit sender and beneficiary information for virtual asset transfers above threshold amounts. US and international implementation timelines and threshold amounts differ — Kycanvas supports VASP-to-VASP data exchange workflows designed for Travel Rule compliance.
OFAC Virtual Currency
OFAC has issued explicit guidance on virtual currency — US persons are prohibited from transacting with sanctioned persons, entities, and wallets. Kycanvas screens the customer identity layer at onboarding and on an ongoing basis. Note: Kycanvas screens customer identity, not blockchain transaction flows — blockchain analytics is a separate function handled by chain analytics partners.
Kycanvas is designed to support compliance with FinCEN, OFAC, and FATF requirements for virtual asset service providers. Use of Kycanvas does not constitute certification of compliance with any regulatory requirement. Your organization remains responsible for its BSA/AML program and must maintain a qualified BSA/AML Officer as required by applicable law.
KYC and AML designed for crypto compliance teams
VASP-level KYC
Identity verification designed for retail and institutional crypto onboarding. Government ID authentication, liveness detection, and database verification — with CDD tiers appropriate for consumer retail accounts and enhanced EDD for institutional or high-volume accounts.
- 50+ country ID support for global user bases
- Institutional entity verification for business accounts
- Configurable risk tiers for retail vs. institutional onboarding
OFAC screening for crypto
Kycanvas screens customer identity against OFAC SDN and other sanctions lists at onboarding and on an ongoing basis. OFAC screening latency designed for real-time user onboarding flows — not batch-only.
- Sub-200ms OFAC screening for real-time onboarding
- Alert delivery via webhook on ongoing monitoring hits
- Full match review documentation for OFAC audit purposes
Travel Rule data support
Kycanvas supports the customer identity data collection required for VASP-to-VASP Travel Rule transmission — sender and beneficiary identity data structured for exchange with counterparty VASPs. Works alongside your Travel Rule messaging protocol of choice.
Blockchain analytics boundary
Kycanvas handles the customer identity layer — who your customer is. Blockchain transaction monitoring (which addresses your customer interacts with) is handled by chain analytics tools. Kycanvas integrates with your existing blockchain analytics layer — not duplicating it.
Zero false SDN matches in 60 days of production
Start a Pilot for your crypto platform.
Kycanvas is onboarding a select cohort of VASPs and crypto compliance teams. Talk to Mira about your program.
Talk to Mira