Indeed KYC/AML has been around for a long time, but in the context for blockchain and cryptocurrency, things are different. Some of the old methods/approaches cannot solve the problems in the decentralised network (of crypto) with the pseudonymity features of this technology. Hence, we do believe that if we make use of a certain kind of blockchain technology itself and the smart contract will be a chance to resolve these problems. Also, it is a chance for the regulatory technology in the Crypto Context. But for this to happen, we will need the whole industry to work on this together. This includes crypto companies, service providers who are willing to accept and implement the new methods of KYC/AML solutions, and RegTech companies who continue to innovate and come up with new solutions for the industry. More importantly, the regulators need to accept the new technology or methods to resolve the KYC/AML issues. Looking at Singapore, it is doing quite well, where regulators are ready to accept the new innovative technology and methodology and open to listening to the different kinds of solutions the applicants/ companies are proposing to them. For problems that we cannot resolve at this moment like Defi (Decentralized finance) and un-hosted wallets, there are upcoming technology solutions like NFT (Non-Functionable Token). This could be one of the solutions for KYC or identity checks, in which an individual’s KYC information can be converted to an NFT. This token can then be used by the different platforms, and they can have certain control of the private key to either view the information only or to get the result of the information as a result of the KYC check. But the key issue here is still about the regulators and the regulatory requirements on whether they accept this kind of new solution. As it may not meet the needs of ongoing monitoring that regulators expect, another suggestion could be to do a review of the person’s profile every 3 or 6 months.