Why UK crypto industry says more background checks and KYC is a good thing

UK crypto industry group CryptoUK supports new HMRC rules, effective January 1, that require crypto firms to report users' personal details, such as name, date of birth and home address, for every trade. Su Carpenter, CryptoUK's executive director, says the industry has long wanted regulatory clarity and that compliance must come first. The article notes that the UK government has also released a draft crypto law for feedback and that the FCA has sought comments on its crypto policing, while Carpenter says CryptoUK is "100% behind" strong due diligence and KYC checks.