Know-Your-Customer – DIGIT INFO

Upbit crypto exchange receives suspension notice in South Korea

DIGIT — Thu, 16 Jan 2025 10:52:27 +0000

Upbit must respond to the FSC’s suspension notice by Jan. 20 or face restrictions on new registrations on the platform for six months.

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California man sues 3 Asia banks over $1M pig butchering crypto-fraud scam

DIGIT — Fri, 03 Jan 2025 02:54:48 +0000

California resident Ken Liem has accused three banks of failing to perform adequate checks that could have blocked the scammers from opening accounts in the first place.

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South Korea probes Upbit for 600K KYC violations

DIGIT — Fri, 15 Nov 2024 09:11:30 +0000

Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with Upbit’s business license renewal.

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Academic paper suggests governments should attack public blockchains

DIGIT — Sun, 06 Oct 2024 19:31:21 +0000

Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations.

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‘Thousands’ Flock to World Liberty Financial Whitelist Following Trump’s Announcement

DIGIT — Wed, 02 Oct 2024 17:01:24 +0000

After former President Donald Trump revealed World Liberty Financial’s (WLF) whitelist signup, WLF’s X account shared that “thousands of people have joined” since the announcement. However, the excitement has been dampened by an influx of fake WLFI token scams flooding X. WLF: ‘Whitelist Is Already a Massive Success’ The crypto community has been haphazardly tracking […]

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AI deepfakes are getting better at spoofing KYC verification: Binance exec

DIGIT — Wed, 24 May 2023 06:05:14 +0000

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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FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers

DIGIT — Sat, 01 Apr 2023 22:30:02 +0000

FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to customary know-your-customer and anti-money-laundering checks.” FTX’s European Arm Opens Withdrawals to Customers According to a press release published on Friday, […]

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Aussie crypto exchange hints interest in Hong Kong base

DIGIT — Thu, 23 Mar 2023 08:24:57 +0000

The CEO of Independent Reserve says Hong Kong’s “friendly” licensing regime makes it a worthy destination to set up shop, but there are other factors to consider.

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Pakistan Banks to Use Blockchain Technology for KYC

DIGIT — Mon, 06 Mar 2023 04:30:24 +0000

Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for KYC Checks Pakistan Banks’ […]

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Localbitcoins, the Pioneer P2P Bitcoin Exchange, Shuts Down After a Decade of Service Due to Crypto Winter

DIGIT — Thu, 09 Feb 2023 15:00:54 +0000

Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the “ongoing crypto-winter,” which has left them unable to continue offering their bitcoin trading services. The Challenges Faced by Localbitcoins and its Ultimate Demise in the Crypto Market The first […]

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