Analysis
As the crypto industry continues to develop at a rapid pace, so do the ransomware attacks, but regulators now seem ready to step in.
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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.
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Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges.
3013 - Opinion
A decentralized exchange reckoning is coming — and it’s bigger than the infrastructure bill — thus, the DeFi community must be ready.
6753 - News
“Many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” a Coinsource exec said.
5447 - Opinion
The rise of DeFi improves financial inclusion and should be allowed to flourish in a regulated, and thus protected, environment.
7509 - News
The crypto exchange will limit services for existing users unless they adhere to the new KYC and AML requirements.
44967 - Sponsored
An ecosystem where TradFi and DeFi coexist and bring their own merit as the world is entering the digital economy.
2521 - Opinion
The decentralized industry has to spend additional resources to raise its standards and implement cybersecurity best practices.
3952 - Expert Take
Any overseas activity outside Korea that has domestic effects or consequences shall be subject to the amended crypto regulation.
3081 - News
FTX will now use phone numbers to confirm users’ jurisdiction and names in addition to testing new KYC tools.
5500 - News
Senate talks regarding the controversial crypto provisions to the U.S. infrastructure bill have ended without any amendments, suggesting the original bill will be voted on come Tuesday.
21523 - Opinion
CeDeFi presents a new financial system and it should be built by using the best of each other, with DeFi leading and CeFi contributing.
2340 - News
Existing Binance users will be unable to withdraw more than 0.06 BTC per day without completing full KYC verification, effective in August.
43394 - News
The world’s fifth-largest cryptocurrency derivatives exchange is implementing KYC rules to improve security compliance.
5124 - Sponsored
Consumers have had a tough time in fully appreciating the benefits associated with cryptocurrencies — but this project wants to change that.
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