What verification requirements do cryptocurrency exchanges impose on companies?

Within the framework of the policy on counteracting legalization (laundering) of proceeds from crime and financing of terrorism, cryptocurrency exchanges — particularly those operating under international legal jurisdictions — are obliged to implement KYC (Know Your Customer) procedures for legal entities, including Russian companies. These requirements correspond to the provisions of the Federal Law No. 115-FZ dated August 7, 2001. The verification procedure for a legal entity on a cryptocurrency exchange generally includes: • submission of the company’s charter documents (charter, certificate of registration, Taxpayer Identification Number (INN), etc.); • information about the beneficial owners and management; • information on the purposes of account usage and sources of funds; • possible additional documents depending on the exchange’s jurisdiction. Without completing the KYC process, a company will not be able to fully utilize the platform’s functionalities; for example, limits on deposits and withdrawals may be significantly restricted. Therefore, when dealing with cryptocurrency exchanges, legal entities must be prepared for full financial transparency.