Analysis
Are decentralized digital identities the future or are they a niche use case for blockchain technology doomed to solely be used by crypto natives?
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KYC News
Know Your Customer, or KYC, compliance means collecting certain information from customers to confirm their identities and to comply with any regulatory requirements. These requirements can include aspects such as restricting access to citizens of a certain jurisdiction. Depending on the involved country, laws and regulations often obligate businesses to complete KYC processes.
KYC has become more common in the crypto space, in line with increasing regulatory overwatch. Binance KYC became a more significant talking point after the exchange announced in 2019 that it would ban customers of certain regions, such as the United States. KYC and AML, or Anti-Money Laundering — the process of verifying customers and the source of their funds — often go hand in hand.
- Use Case
Adopting more stringent Know Your Customer (KYC) checks can give crypto exchanges a competitive edge over those that meet minimal standards.
1165 - News
The Cyber Crime Investigation Bureau in Thailand will now consider whether to pursue legal action against Zipmex following the SEC's allegations.
1063 - Explained
The law enforcers like the IRS and FBI track Bitcoin with blockchain data and collaborate with private companies in an attempt to trace criminals and taxes.
195 - Explained
Bitcoin transactions are easily traceable through blockchain explorers but do not directly reveal the identities behind Bitcoin wallet addresses.
208 - News
One of the most crypto-friendly countries in the world wants to synchronize its crypto regulations with associated rules in the European Union.
2124 - News
While most crypto exchanges have begun implementing KYC mandates, investors still have the choice to opt for crypto exchanges that promote greater anonymity by not imposing KYC.
5978 - Interview
One of the quickest ways to ensure crypto’s mainstream adoption is by working with the regulators, which includes implementing effective and investor-centric KYC and AML tools.
5815 - News
India’s Enforcement Directorate, which investigates financial crime, has frozen WazirX bank accounts while it looks at transfers from instant loan companies to international wallets.
1438 - News
Gregory Dwyer becomes the last one from the exchange’s management to enter a plea.
1487 - News
Binance's new Binance Account Bound token is aimed at many use cases in the decentralized society but will initially only serve as Binance KYC user credentials.
8732 - News
The Bank for International Settlements, the International Monetary Fund and the World Bank say CBDCs should be programmed in advance to avoid interoperability issues.
2322 - News
Dutch users need to provide the recipient's full name, the purpose of transfer and full residential address to move digital assets off the platform.
5131 - News
Delo was allowed to leave the country to travel to Hong Kong where he is a resident, bringing to a close his part in the legal saga which began in 2020.
1825 - Opinion
Regulations are coming, and DEXs need to step it up to survive, requiring KYC to weather the upcoming regulatory storm.
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