It is no secret that compliance has always occupied an uncomfortable position in digital assets. Many viewed it as a cost center, draining valuable time and resources that could be “put to better use” in more product-oriented operations. Firms invested in compliance because regulators demanded it, banking partners expected it and risk departments insisted on it, but rarely did they do so because they believed it could drive growth. And certainly not because they expected compliance to act as a competitive advantage.

The mindset made sense in an…