KYB requirements refer to the “Know Your Business” practices that companies in the cryptocurrency space must follow. These practices are designed to verify the identity and legitimacy of businesses before they can engage in financial transactions. Just as individuals undergo KYC (Know Your Customer) checks, businesses are subjected to KYB processes. This includes verifying the business’s registration details, ownership structure, and the identities of its directors and significant stakeholders. The goal is to ensure that the business is not involved in illegal activities, such as money laundering or fraud.Compliance with KYB requirements helps build trust in the marketplace. By ensuring that only legitimate businesses participate, it reduces the overall risk for service providers and users alike. Many exchanges and financial platforms implement these checks as part of their regulatory obligations and security measures.Ultimately, KYB is an important step in fostering a safe and responsible business environment, enhancing transparency, and maintaining the integrity of financial systems.