As you read above in our brief history lesson, the US was the founder of modern KYC regulations. Now, it is true that they began in an effort to fight money derived from drugs from being laundered and placed back into the economy- but completely evolved into what they are today after the terrorist acts of 9/11.
As founding fathers as the United States are, they have lagged in terms of FinTech regulations and watched
while other countries take the lead in this area. However, the USA remains as the first ecosystem for
FinTechs in the world: understanding the regulations that apply is a necessity if you're planning to start