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More than two thirds of the leading cryptocurrency exchanges and wallet providers on both sides of the Atlantic fail to conduct proper identity verification checks. According to new research into their onboarding practices, most of the studied platforms do not meet the requirements of the upcoming regulations under the updated EU anti-money laundering directive. Also … Read more
Risk management giant LexisNexis has partnered with Australian crypto exchange Blockbid to make trading more secure Go to Source Powered by WPeMatico
Japan’s financial watchdog has ordered multiple licensed crypto exchanges to improve their systems in order to satisfy anti-money-laundering requirements Go to Source Powered by WPeMatico
Bithumb is banning users from 11 countries, citing the need to follow “global anti money laundering efforts” Go to Source Powered by WPeMatico
South Korea’s largest cryptocurrency exchange Bithumb has announced that it will block trading in 11 countries as part of its revised internal regulations aimed to prevent money laundering using its system. Foreign users will also need to undergo a stricter verification process. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Preventing Money Laundering Bithumb announced … Read more
Thai SEC details rules for running ICOs in a focus group today Go to Source Powered by WPeMatico
Bermuda has signed a memorandum of understanding with blockchain network Shyft, which provides ID solutions for compliance and due diligence mandates Go to Source Powered by WPeMatico
A State Duma committee will support the first reading of Russia’s initiative for adding digital economy norms to the Civil Code Go to Source Powered by WPeMatico
A directive affecting the crypto sector in Europe has been adopted by the EU Council. The document updates the anti-money laundering legislation of the European Union to address, among other issues, “the risks linked to virtual currencies.” The new rules aim to reduce anonymity for both users and transactions with requirements for know-your-customer procedures that … Read more
KYC and AML procedures play an increasingly important role in the world of cryptocurrency. This is especially true when dealing with initial coin offerings. IdentityMind has already processed 150 client requests in the past few months. It’s a very positive trend that will bring more legitimacy to the ICO industry moving forward. IdentityMind is on … Read more
