1 / 1 Relevant items tagged with #Knowyourcustomer

Posts

South Korea probes Upbit for 600K KYC violations

[Nov 15 9:11 AM] Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with its business license renewal.

Polymarket's Probe Highlights Challenges of Blocking U.S. Users (and Their VPNs)

[Nov 14 3:00 PM] What can offshore crypto companies practically do to stop Americans from accessing their services – and what do regulators expect them to do?

Academic paper suggests governments should attack public blockchains

[Oct 6 7:15 PM] Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations.

‘Thousands’ Flock to World Liberty Financial Whitelist Following Trump’s Announcement

[Oct 2 4:45 PM] After former President Donald Trump revealed World Liberty Financial’s (WLF) whitelist signup, WLF’s X account shared that “thousands of people have joined” since the announcement. However, the excitement has been dampened by an influx of fake WLF

German Government Shuts Down 47 Exchanges, Says They're Tied To ‘Illegal Activity’

[Sep 19 8:46 PM] The German Attorney General's Office Frankfurt am Main (Generalstaatsanwaltschaft) and the country’s Federal Criminal Police Office (BKA) have shut down 47 crypto exchanges allegedly tied to criminal activities including money laundering.

Preparing for DeFi Regulation: The Role of Portable KYC

[Aug 7 4:05 PM] As regulators scrutinize DeFi more closely, participants need to improve compliance around AML and KYC and make the process easier for customers, says Thomas Gentle, Compliance Officer, Quadrata.

Crypto Exchange Bitget Reveals Mandatory KYC Policy With Incentives for Early Compliance

[Dec 14, 2023 9:00 AM] On Thursday, the crypto exchange Bitget, headquartered in Seychelles, announced its decision to implement comprehensive Know Your Customer (KYC) policies across its platform. These new KYC requirements are set to take effect on December 15, 2023…

French Investigation Targets Binance: Allegations of Money Laundering and Regulatory Violations

[Jun 16, 2023 7:30 AM] Binance, the crypto exchange with the highest trade volume globally, is currently facing an investigation for suspected money laundering activities, as reported by the French publication Le Monde. The finance judicial investigation service of…

AI deepfakes are getting better at spoofing KYC verification: Binance exec

[May 23, 2023 11:19 PM] The technology is getting so advanced, deepfakes may soon become undetectable by a human verifier, said Jimmy Su, Binance's Chief Security Officer.

FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers

[Apr 1, 2023 1:30 PM] FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to…

Aussie crypto exchange hints interest in Hong Kong base, but it’ll depend

[Mar 23, 2023 12:22 AM] The CEO of Independent Reserve says Hong Kong's "friendly" licensing regime makes it a worthy destination to set up shop, but there are other factors to consider.

Pakistan Banks to Use Blockchain Technology for KYC

[Mar 5, 2023 10:30 PM] Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they…

Localbitcoins, the Pioneer P2P Bitcoin Exchange, Shuts Down After a Decade of Service Due to Crypto Winter

[Feb 9, 2023 9:00 AM] Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the “ongoing crypto-winter,” which has left…

Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations

[Jan 4, 2023 2:30 PM] Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said…

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits

[Dec 12, 2022 5:30 AM] Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and…

Crypto scammers are using black market identities to avoid detection: CertiK

[Nov 17, 2022 9:48 PM] The blockchain security firm has uncovered a new tactic used by crypto scammers as the industry continues to improve its fraud detection capabilities.