US blockchain analysis company: FATF's recommendation to increase transparency in the encryption industry is "harmful"

According to CoinDesk, blockchain analysis firm Chainanalysis responded this week with a public comment letter to the Financial Action Task Force (FATF) Draft, which expects the exchange to send KYC information to the recipient platform on each transaction. This is unrealistic and harmful to the encryption industry. These measures may result in the closure of exchanges, or what the FATF calls Virtual Asset Service Providers (VASPs), and reduce the visibility of potentially illegal activities. In the draft document issued in February this year, the FATF outlines some of the measures that governments can take to more effectively monitor encrypted transactions to prevent or mitigate the risk of money laundering.