Know Your Transaction (KYT)

Know Your Transaction (KYT) is a commonly used financial industry term that refers to the process of examining financial transactions for fraudulent or suspicious activities, including money laundering. As cryptocurrency adoption continues to grow, it is increasingly important for institutions to have the ability to drill down into crypto transactions for evidence of financial crimes. In traditional finance, this may be more commonly referred to as Transaction Monitoring.

Note: These are non-technical definitions meant for a general audience and should not be used as legal definition
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