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.

Follow up
As India’s Supreme Court inches closer to giving its final verdict on RBI’s crypto ban, experts believe the judgment will favor crypto.
Crypto Fights for Freedom in India’s Supreme Court, Critics Cite Risk
Shiraz Jagati
As the 5AMLD is signed into law, turbulent times lie ahead for the crypto industry, experts discuss the changes.
New EU AML Compliance Laws Could Disrupt the Crypto Industry
Joseph Birch
Binance and Huobi received over 52% of total $2.8 billion in illicit Bitcoin transfers in 2019, according to a new Chainalysis report.
Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019
Helen Partz
Crypto exchange Deribit leaves the Netherlands for Panama to avoid demanding EU regulations that the Dutch nation might adopt.
Crypto Derivatives Exchange Leaves EU for Panama, Expands KYC
Benjamin Pirus
New Year Special
What did 2019 bring by way of privacy coins in criminality, how have things changed, and what is the 2020 outlook?
Privacy Coins in 2019: True Financial Freedom or a Criminal's Delight?
Will Heasman
New Year Special
Has 2019 lived up to the expectations of the crypto community and those working in the industry, and what are the biggest disappointments?
Did 2019 Deliver on All That Was Promised for the Crypto Industry?
Andrew Singer
Bitfinex steps up KYC requirements, asking verified users for proof of residence, and the source and use of their funds.
Bitfinex Beefs-up KYC Requirements, Asks Users for Additional Info
Jack Martin
Crypto exchange Poloniex announced a new account tier allowing for up to $10,000 in daily withdrawals that only requires an email address and password.
Poloniex Allows Up to $10,000 Daily Withdrawals for KYC-Less Accounts
Adrian Zmudzinski

Follow us on Facebook