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.

Opinion
Questions around cryptocurrency assessments gain momentum, which brings some nuanced challenges in assessing crypto’s place in M&A.
Mergers and acquisitions are rising, leaving crypto assessments in question
Steven S. McNew
2021-04-17T08:13:00+01:00
7687
News
Dubai’s Department of Economic Development wants to accelerate the total adoption of UAE KYC — the national Know Your Customer standard running on blockchain te...
Dubai’s economic department to roll out blockchain-based corporate KYC
Osato Avan-Nomayo
2021-04-14T11:16:04+01:00
9950
Opinion
Traditional finance is built not on collateral but on reputation, and DeFi will grow by following suit.
DeFi’s critical missing piece: Credit scores
Rafael Cosman
2021-04-10T08:17:00+01:00
15470
Opinion
The bull market effect has made Know Your Customer regulation more important than ever for cryptocurrency exchanges.
Implementing the double-edged sword of KYC is a must for crypto exchanges
Konstantin Anissimov
2021-04-03T08:17:00+01:00
15303
News
Japan has been a member of the FATF since 1990.
Japan's FSA asks cryptocurrency industry group to introduce FATF travel rule
Helen Partz
2021-04-01T09:29:09+01:00
4091
Follow up
The growing cost of compliance in South Korea could push smaller crypto businesses out of the country.
South Korea faces strict crypto regulation and fears of centralization
Osato Avan-Nomayo
2021-03-24T09:53:27+00:00
8345
News
Blockchain industry members claim that smaller-scale startups have struggled to forge partnerships with local banks in South Korea and are therefore unable to r...
Experts say new South Korean crypto rules will create a monopolized market
Marie Huillet
2021-03-23T10:48:14+00:00
10348
News
South Korean financial regulators are developing a penalty regime for Anti-Money Laundering and Know Your Customer violations by cryptocurrency exchanges.
Korean crypto exchanges could soon face fines for gaps in due diligence measures
Helen Partz
2021-03-10T10:24:33+00:00
5117

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