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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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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

2020-03-04T15:53:00+00:00

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A panel of experts spoke before the U.S. IRS on recent changes in crypto technology that are shaking up the world of taxation.

From Taxes to Transparency: The IRS Gets Schooled on Crypto

2020-03-03T15:11:26+00:00

3838

An ex-employee of crypto exchange Digitex has leaked KYC documentation for and claims to have data for over 8,000 users.

‘Digileaker’ Claims to Have Stolen KYC Documents for 8,000 Digitex Users

2020-02-29T09:04:00+00:00

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Amid a major economic downgrade, countries in Latin America suffer increasingly from money laundering through crypto, a new report says.

Crypto Contributes to Money Laundering Problems in Latin America, Report

2020-02-28T15:19:00+00:00

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Bithumb, South Korea’s largest crypto exchange, has taken another step towards global expansion by strengthening integration with its international arm.

South Korea’s Bithumb Launches Zero Fee Transfers to Global Platform

2020-02-26T15:08:00+00:00

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Moody’s ratings agency has said that the proposed blockchain-based KYC consortium in the United Arab Emirates is credit positive for the nation’s lenders.

Moody’s Gives Thumbs Up to UAE’s Know Your Customer Blockchain Platform

2020-02-26T10:27:00+00:00

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Nigma Conseil and the Austrian Institute of Technology joined forces to provide an alternative blockchain forensics platform, offering compliance for AML and KY...

New Blockchain Forensics Tool Developed Through French-Austrian Cooperation

Andrey Shevchenko

2020-02-25T11:38:00+00:00

3201

From payments to asset management and even data privacy, DeFi solutions are spreading across multiple sectors.

Sectors Realizing the Full Potential of DeFi Protocols In 2020

Jinia Shawdagor

2020-02-23T06:30:00+00:00

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