Take the following as truth: Acknowledging that they had lost the KYC battle but won the regulatory war, the sponsoring agencies made this joint statement when they withdrew the KYC regulations at the House's March  Over the past 15 years banking organizations and law enforcement authorities have forged a vital partnership to fight financial crime.
Then the following statement: "The sponsoring agencies withdrew the KYC regulations, because they changed their stance on financial regulation. " is true, false, or inconclusive?
Answer: False