The exchange operator is instituting new KYC requirements for users from September 2023 to comply with developing global regulatory guidelines.
Category: KYC
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UK crypto businesses to comply with FATF Travel Rule beginning in September
The U.K. passed legislation in 2022 to make it one of the few countries in compliance with the extension of the Travel Rule to crypto.
Identity checks on crypto exchanges at risk as AI deepfakes evolve
Once HeyGen’s AI-generated digital avatar is available to the public, users would be able to create a video with a real life-like digital avatar in just two minutes.
Paypal USD: Boon for Ethereum but not decentralization, says community
Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC.
Worldcoin rebuts reports of lackluster takeup as Altman cites Japan queues
A video shared by Worldcoin co-founder Sam Altman shows a long queue of people in Japan reportedly waiting to collect $50 worth of Worldcoin (WLD) tokens or 25 WLD.
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Privacy is not the core feature of Bitcoin, KuCoin CEO says
KYC is an important measure for crypto exchanges to protect and recover user funds in the case of theft or hacking, KuCoin CEO Johnny Lyu said.
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KuCoin crypto exchange to introduce mandatory KYC in July
KuCoin’s Know Your Customer checks will require new users to complete identity verification to access all services, while existing non-KYC users will not be able to deposit.
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AI deepfakes are getting better at spoofing KYC verification: Binance exec
The technology is getting so advanced, deepfakes may soon become undetectable by a human verifier, said Jimmy Su, Binance’s Chief Security Officer.
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Federal Reserve’s FedNow will integrate with Metal Blockchain
The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols.
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New White House standards strategy could have implications for crypto industry KYC
The Biden administration has released a strategy document focusing on standard setting for “critical and emerging” technologies such as blockchain and digital ID.
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