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. 

News
Existing Binance users will be unable to withdraw more than 0.06 BTC per day without completing full KYC verification, effective in August.
Binance cuts withdrawal limits, rolls out tax reporting tool
Helen Partz
2021-07-28T09:54:31+01:00
37659
News
The world’s fifth-largest cryptocurrency derivatives exchange is implementing KYC rules to improve security compliance.
Bybit crypto exchange to impose KYC rules
Helen Partz
2021-07-06T11:49:49+01:00
3867
Sponsored
Consumers have had a tough time in fully appreciating the benefits associated with cryptocurrencies — but this project wants to change that.
Has this ecosystem found a way to make cryptocurrencies accessible to all?
Connor Sephton
2021-06-28T16:41:00+01:00
2557
Markets News
Mike Novogratz suggests DeFi projects add KYC and AML features now instead of waiting on regulators to crack down on the entire sector.
Echoing Cuban, Novogratz says DeFi should ‘play by the rules’, or ‘pay the piper’ later
Jordan Finneseth
2021-06-24T21:05:00+01:00
4853
Opinion
Cryptocurrency is a promising asset class for people and investors, but the lack of proper regulation slows down its innovation.
Is there a right way to regulate crypto? Yes, and this is how
Antoni Trenchev
2021-06-12T11:12:00+01:00
13633
News
Arcx has launched a new version of its “DeFi Passport,” Sapphire, promising the pseudonymous on-chain credit check will enable new decentralized finance product...
New DeFi ‘passport’ could enable under-collateralized crypto loans
Samuel Haig
2021-06-03T06:56:28+01:00
23932
News
Only five crypto firms have received FCA AML registration after the authority became the official money laundering supervisor for crypto businesses last year.
Crypto firms not meeting AML standards, says UK minister
Helen Partz
2021-05-28T14:11:30+01:00
19039
News
Stringent KYC requirements notwithstanding, the Dutch central bank still does not know how many crypto investors are in the Netherlands.
Dutch regulators unsure of number of crypto investors in Netherlands
Osato Avan-Nomayo
2021-05-20T12:40:36+01:00
6906

Follow us on Facebook