The exchange of bitcoin for other currencies clearly comes under existing AML regulations, and where an exchange has been used as a part of this process, KYC requirements will still apply. The various requirements attributable to bitcoin across each of the jurisdictions with respect to the requirements that are associated with both AML and KYC will differ, but, the laws of money and exchange remain valid.
 Anti-Money laundering
 2 31 CFR § 1010.100(ff)
 Know Your Customer
 Bank Secrecy Act Regulations — Definitions and Other Regulations Relating to Money Services Businesses, 76 FR 43585 (July 21, 2011).