The Libra Association is considering a “stepped” approach to KYC regulations

According to CoinDesk, the Libra Association is considering a radical approach to obtaining users without bank accounts in certain regions, including a “stepwise” approach to understanding your customer (KYC) regulations. In addition, the Financial Action Task Force (FATF) stated that it is willing to work with Libra to develop potential new digital identities. Libra believes that blockchain forensics companies such as Chainalysis, Elliptic and Coinfirm will help strengthen the “layered KYC” case by monitoring wallet data and transaction history. Non-profit organizations in the Libra Association like the Kiva Foundation may play a key role.