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Nalezeno "KYC": 535

Currency.com Accused of Exploiting KYC to Withhold Customer Funds

18.2.2020
Know Your Customer (KYC) and Know Your Transaction (KYT) are ostensibly deployed by exchanges to combat money laundering. In practice, these provisions are used as an excuse to surveil, cajole, and threaten customers, who risk losing funds if they are unable to meet the impossibly high burden...

Will "No KYC" Exchanges Survive in a Regulated Crypto Industry?

16.2.2020
For those of us who have been around since before the great crypto boom of 2017, having to undergo KYC (know your customer) procedures at digital asset exchanges was somewhat of an anomaly. “Back in the day” you were able to register to most crypto trading platforms using an email address and that...

Governments Begin to Roll Out FATF’s Travel Rule Around the Globe

15.2.2020
FATF’s deadline for crypto AML adoption is looming, and several counties have implemented the rules. But how are crypto firms coping under the new regime?

Wells Fargo Joins Elliptic's Series B Investment Round

13.2.2020
Wells Fargo invests in crypto compliance firm Elliptic

‘Full Transparency Not Ideal for Cryptocurrency’ Says Chainalysis Exec

13.2.2020
Major global crypto AML service provider Chainalysis does not support full transparency in crypto despite not being able to track all privacy coins

You Can Privately Cash out Bitcoin on These P2P Exchanges – for a Premium

11.2.2020
Using P2P exchanges to cash out bitcoin provides privacy, but it comes with a premium – a price premium, to be precise. Whether you’re buying or selling crypto on these semi-decentralized platforms, be prepared to take a hit on the market price. If you’re planning to sell bitcoin...

A Call for Sensible Regulation: The Fate of Future Innovation in India

10.2.2020
The Indian crypto community holds its breath awaiting the Supreme Court’s decision

Should They Stay or Should They Go? Crypto Firms in the EU Must Decide

10.2.2020
Crypto industry experts weigh in on the state of the EU’s regulatory climate

FinCen: Social Media Crypto Projects Can’t Ignore Money Laundering Risk

10.2.2020
The deputy director of FinCen says social media platforms should have the same AML compliance responsibilities as traditional financial actors

There’s No Such Thing as Tainted Bitcoins

6.2.2020
All bitcoins are created equal. But in the eyes of blockchain forensics firms, some bitcoins are more equal than others. If these companies are to be believed, coins that have been used in criminal transactions are ‘tainted,’ destined to be forever linked with nefarious activity....

Another Crypto Exchange Discourages the Use of Bitcoin Mixing Services

30.1.2020
The cryptocurrency exchange Binance was recently scrutinized for flagging a customer’s funds because the individual had used a bitcoin mixing application. Now the platform Paxos Global is discouraging the use of crypto mixers after a customer allegedly sent coins to a mixing service. Also...

Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash Survive

29.1.2020
A new report from Deutsche Bank Research, Digital Currencies: the Ultimate Hard Power Tool, predicts that cash payments will remain for decades, but the emergence of digital payments “will lead to the death of the plastic card.” The report, which is the third installment in a series...

LocalBitcoins Quietly Suspends Accounts in Multiple Regions Without Notice

28.1.2020
Finnish LocalBitcoins silently suspends user accounts in multiple countries, reportedly citing an “enhanced due diligence process” initiated by the EU’s 5AMLD

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC

28.1.2020
If you’ve ever had a sudden need for fiat while all in crypto, you’ll understand the difficulty of cashing out without KYC-ing away your identity and that of your unborn children. Localbitcoins is now an AML hellhole, Bisq is great if you’re happy to wait two days for a trade...

Ukraine to Block Crypto Wallets for Illicit Funds, Finance Minister Says

24.1.2020
Ukrainian authorities will be able to “block crypto wallets” in order to seize illegally obtained assets, a notice from the country’s Ministry of Finance says

Panic Withdrawals at Indian Bank Over Alarming KYC Notice

24.1.2020
Hundreds of customers went on a withdrawal spree after an Indian bank announced its revised KYC requirements. The bank’s action followed the decision by the Reserve Bank of India (RBI) to include the National Population Register letter as a valid KYC document for opening bank accounts....