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
South Korea and Singapore may have the best regulations around compliance with the Financial Action Task Force guidelines.
Asian Countries Leading the Way for FATF Travel Rule
Turner Wright
2020-05-14T06:56:00+01:00
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News
CipherTrace seeks to fill the “blind spot” in crypto compliance with the launch of Armada.
CipherTrace Launches A New Product to Help Banks Eliminate “Blind Spots”
Michael Kapilkov
2020-04-28T22:02:00+01:00
2874
News
Oobit launches ‘Skyscanner’ like Bitcoin price aggregator called Hunter.
Oobit Launches ‘SkyScanner for Bitcoin Trading’ Called Hunter
Samuel Haig
2020-04-12T18:00:00+01:00
3285
News
Marubeni unveiled blockchain steel pipe tracing tests, multiple exchanges added leverage trading, and more headlined news from Japan this past week.
Cryptocurrency News From Japan: March 22-28 in Review
Benjamin Pirus
2020-03-28T18:30:00+00:00
3118
News
P2P exchange Paxful has partnered with blockchain analysis firm Chainalysis, adding security to the exchange’s operations.
P2P Exchange Paxful Teams Up With Chainalysis for Increased Overwatch
Benjamin Pirus
2020-03-23T13:00:00+00:00
2234
News
A new report from OXT Research shows the alleged PlusToken scam dumped BTC on regulated exchanges with KYC.
New PlusToken Report Shows KYC May Be Smoke and Mirrors
Benjamin Pirus
2020-03-12T00:23:00+00:00
5410
Opinion
The main idea behind the DeFi industry is that the financial product shouldn’t be managed by central server, company, organization, etc.
When Will Bitcoin Join the DeFi Revolution?
Ruaridh O’Donnell
2020-03-11T01:00:00+00:00
7421
News
Adam Todd, CEO at Digitex Futures Exchange, reveals that the exchange will completely take down all KYC as of April 2020 in response to earlier data leakage.
Crypto Exchange Digitex Removes KYC to Protect User Data
Helen Partz
2020-03-04T15:53:00+00:00
3665

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