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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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The operator of South Korean cryptocurrency exchange Bithumb has placed restrictions on trading accounts registered in jurisdictions that are deemed to be too l...

Korean crypto exchange Bithumb toughens up its Anti-Money Laundering measures

2021-03-09T09:34:08+00:00

7129

Goldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state.

BitGo receives trust license from New York regulators

2021-03-04T14:30:00+00:00

10760

The Financial Action Task Force is looking to adapt its guidance standards for stablecoins and crypto peer-to-peer transactions.

FATF updates guidance on crypto service providers, calls for public comments

Osato Avan-Nomayo

2021-02-26T09:28:01+00:00

7359

The global monetary landscape will have everyone storing electronic money, cryptocurrencies and central bank digital currencies in one bank.

Banks will be required to work with crypto, e-money and CBDCs to survive

2021-02-21T14:37:00+00:00

27613

If we want to achieve mainstream adoption, we must move toward an industry where DeFi can also serve legacy financial institutions.

Merging traditional finance and DeFi is critical for mass adoption

2021-02-04T16:46:17+00:00

7704

A crypto exchange says regulations protect customers far more than they might expect.

Crypto regulations have unseen benefits for traders, exchange argues

2021-01-28T10:53:00+00:00

2818

Bitstamp traders based in the Netherlands now have even more regulatory hoops to scale before being able to withdraw their funds.

Dutch crypto exchange users bemoan additional KYC requirements

Osato Avan-Nomayo

2021-01-26T08:40:43+00:00

5787

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

9215