Geofencing Technology: A Crucial Tool for Cryptocurrency Compliance

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This includes implementing “know-your-customer” (KYC) procedures using all available information about users to identify those located in the US.

Companies can monitor the following data points to identify U.S. users:

  • Physical address
  • Email address
  • IP address
  • GPS location

By implementing geofencing blocking measures, cryptocurrency companies can reduce their risk of violating U.S. regulations and ensure their services are offered only to users in jurisdictions where compliance is feasible.

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