KYC News

Know your customer or KYC is a process of identifying and verifying identities of customers by businesses. The term is commonly used to refer to governmental anti-money laundering regulations in banking, financial and stock market activities. KYC mostly incorporates four key elements: acceptance policy, identification procedures, transaction monitoring and risk management. The growing concern about the use of cryptocurrency for money laundering led authorities to apply KYC on the cryptocurrency market and services. Most of these platforms will have to adopt cryptocurrency KYC and require clients to get through verification procedure in order to operate within their platform. KYC has its advantages as it can help with fighting the funding of terrorism and money laundering. However, complications within the crypto-market may slow down its development.

News
As everyone waits on new KYC and AML regulators, many speak out to keep unhosted wallets free of controls.
Crypto lobby defends self-hosted wallets and P2P from rumored gov't crackdown
Kollen Post
2020-11-18T19:00:44+00:00
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News
New technology will help screen out bad actors, BitMEX says.
BitMEX crypto exchange steps up AML and trade surveillance measures
Helen Partz
2020-11-12T12:51:30+00:00
3364
Opinion
The lightchain-vs.-darkchain dichotomy is counterproductive, and a healthy graychain will produce more valuable crypto assets like Bitcoin.
The crypto compliance lie: Sacrificing privacy does not make us safer
Zachary Kelman
2020-10-31T15:00:00+00:00
5002
Analysis
With new changes to the Travel Rule up for discussion and a bevy of new cases in the courts, it's time to look at how U.S. AML law is shifting to cope with cryp...
How US authorities are using old AML tools to crack down on crypto
Kollen Post
2020-10-24T15:45:04+01:00
19740
Expert Take
The changes brought about by 6AMLD will affect a lot of businesses, but there is still time to prepare for new rules.
Understanding the EU’s 6AMLD and the risk to your business
Joe Kiely
2020-10-18T09:00:00+01:00
3842
News
The hire comes after BitMEX's founders were charged with failing to prevent money laundering and operating an unregistered trading platform illegally in the Uni...
BitMEX operator hires chief compliance officer amid US criminal charges
Marie Huillet
2020-10-12T11:51:22+01:00
4549
Analysis
More regulation is coming, and it will be costly, but compliance can also expand an exchange’s customer base.
Memo to crypto exchanges: KYC compliance can be a competitive advantage
Andrew Singer
2020-10-09T16:59:00+01:00
16843
News
Yet, the biggest crypto hub remains on the blacklist.
EU removes this crypto hotspot from tax haven blacklist, clearing path for further adoption
Michael Kapilkov
2020-10-06T22:13:36+01:00
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