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
Fetch believes regulatory compliance is necessary to bring real world usage to the sector.
Fetch and Yoti join forces to bring KYC to autonomous DeFi agents
Andrey Shevchenko
2021-01-19T14:13:01+00:00
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News
To comply with Dutch regulations, Netherlands-based Bitstamp users can no longer make withdrawals without first providing photographic proof they own the recipi...
Bitstamp imposes KYC for Dutch traders withdrawing to external wallets
Turner Wright
2021-01-19T02:08:01+00:00
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Use Case
As the crypto markets mature and institutional money flows into the space, technology to detect fraud and money laundering involving digital assets is more impo...
How compliance software detects fraud and money laundering involving crypto
Connor Sephton
2021-01-18T13:19:00+00:00
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News
Controversial crypto derivatives trading platform BitMEX says its entire user base has completed the obligatory Know Your Customer process.
After Know Your Customer debacle, BitMEX reports 100% of users are verified
Osato Avan-Nomayo
2021-01-07T10:00:19+00:00
4368
News
The new DEX onramps will offer users access to new assets, as well as better liquidity and security.
Crypto exchange ShapeShift integrates DEXes, relieves user KYC burdens
Andrew Thurman
2021-01-06T14:00:00+00:00
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Expert Take
Such regulation by enforcement does indeed run the risk of stifling important and valuable innovation in the crypto space.
SEC vs. Ripple: A predictable but undesirable development
Carol Goforth
2020-12-27T17:17:00+00:00
84679
News
About $4 million of crypto stolen in Exmo hack was allegedly withdrawn through Poloniex, the exchange said it froze several accounts.
Exmo hackers withdraw part of stolen funds via Poloniex, exchange confirms
Helen Partz
2020-12-25T09:47:12+00:00
11006
Opinion
The privacy paradox has a potential resolution — if both sides can accept compromise in an increasingly polarized financial system
Users vs. governments: The 'infinity war' for blockchain privacy may be over
Debasish Ray Chawdhuri
2020-12-23T17:31:55+00:00
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