The battle for global consumer deposits is going to be the fight of the century. But to vanquish old-fashioned banks, the DeFi sector needs to up its game.
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Category: Compliance
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America’s Fifth-Largest Banking Institution US Bank to Offer Cryptocurrency Custody
On April 27, the American bank holding company U.S. Bank revealed in a blog post that the financial institution plans to offer cryptocurrency custody services. The bank’s chief strategy officer for U.S. Bank Global Fund Services, Christine Waldron, says she is proud of her company’s steps toward blockchain and cryptocurrency practices. US Bank to Offer […]Powered by WPeMatico
How compliance software detects fraud and money laundering involving crypto
As the crypto markets mature and institutional money flows into the space, technology to detect fraud and money laundering involving digital assets is more important than ever.
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Bitcoin Businesses on the Mend: Report Shows 57% of Crypto Execs Expect the Industry to Accelerate, Companies Are Hiring
Digital Currency Group (DCG) recently published the firm’s “State of Crypto 2020” report which polls more than 150 portfolio crypto companies. According to the study, 75% of the respondents believe the value of their business has grown this year, while 50% of the startups have seen outperforming start-of-year projections. The state of the cryptocurrency industry […]
The post Bitcoin Businesses on the Mend: Report Shows 57% of Crypto Execs Expect the Industry to Accelerate, Companies Are Hiring appeared first on Bitcoin News.
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Can Compliance and AML Software Improve Cryptocurrency Business Sustainability?
Cryptocurrency businesses are facing increasing challenges as new regulations are introduced globally, which is changing the face of the industry and forcing companies to search for effective solutions.
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How Bitcoin of America’s Robust Compliance Program Made Possible the Restitution of Half a Million Dollars to Fraud Victims
Robust and effective compliance programs for virtual asset exchanges such as Bitcoin of America, which owns and operates a crypto exchange platform as well as a nationwide network of bitcoin ATM locations, isn’t simply a matter of operating a system for CIP, KYC, and AML procedures. An interview with Bitcoin of America’s attorney William Suriano […]
The post How Bitcoin of America’s Robust Compliance Program Made Possible the Restitution of Half a Million Dollars to Fraud Victims appeared first on Bitcoin News.
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Chainalysis Can Now Track Your ‘Privacy Coins’ Zcash & Dash
Chainalysis calls the ‘privacy coin’ bluff — adds support for Zcash and Dash, calling Dash a ‘privacy coin’ is a ‘misnomer.’
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20 Blockchain Surveillance Firms Monitor Crypto Networks, But Some Apps Show Inaccuracies
During the last few years, blockchain surveillance has increased a great deal and in the early days around 2013-14, there were only a handful of firms. Now there are more than 20 blockchain analysis companies that monitor addresses, transactions, and making sure addresses are AML/CFT compliant as well. The Rise of Blockchain Analysis Ventures In […]
The post 20 Blockchain Surveillance Firms Monitor Crypto Networks, But Some Apps Show Inaccuracies appeared first on Bitcoin News.
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Currency.com Accused of Exploiting KYC to Withhold Customer Funds
Know Your Customer (KYC) and Know Your Transaction (KYT) are ostensibly deployed by exchanges to combat money laundering. In practice, these provisions are used as an excuse to surveil, cajole, and threaten customers, who risk losing funds if they are unable to meet the impossibly high burden of proof. An investigation by news.Bitcoin.com suggests that […]
The post Currency.com Accused of Exploiting KYC to Withhold Customer Funds appeared first on Bitcoin News.
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How to Ensure Bitcoin Tax Compliance in 2020 and Beyond
2019 was the year when the term “cryptocurrency tax” became deeply embedded in token-holders’ lexicons. Sure, the idea that you’d have to pay tax on your bitcoin or other digital assets has been kicking around for years, but more column inches were devoted to the taxation of crypto last year than any preceding it. Undoubtedly this stems from various national agencies releasing detailed guidance on how to treat your cryptocurrency transactions and prepare an acceptable tax return, as well as news stories about the same authorities sending warning letters to taxpayers with crypto holdings. In any case, such publicity has
The post How to Ensure Bitcoin Tax Compliance in 2020 and Beyond appeared first on The Merkle Hash.
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