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Binance’s new Binance Account Bound token is aimed at many use cases in the decentralized society but will initially only serve as Binance KYC user credentials. Go to Source Powered by WPeMatico
South African tax consultancy firm Tax Consulting SA, has said the recent announcement by the central bank — that will start to regulate cryptocurrency in 12 to 18 months — has legal and tax implications for both crypto investors and organizations providing intermediary services. The firm, however, says the South African Reserve Bank (SARB) “will … Read more
The Bank for International Settlements, International Monetary Fund and World Bank say CBDCs should be programmed in advance to avoid interoperability issues. Go to Source Powered by WPeMatico
Money laundering and fraud are serious issues in the cryptocurrency industry. Financial institutions and governmental bodies have been trying to regulate cryptocurrencies to fight this problem. There still aren’t foolproof methods, but there are different processes to help ensure cryptocurrency compliance. Know Your Customer or KYC is just one way that financial institutions try to … Read more
Coinbase has announced that the company plans to introduce a number of changes for customers in the Netherlands in order to comply with the 1977 Sanctions Act, a law that recently applied know-your-customer (KYC) guidelines to non-custodial wallets. If the person living in the Netherlands wants to send crypto to a third-party wallet via Coinbase, … Read more
Dutch users need to provide the recipient’s full name, purpose of transfer, and their full residential address to move digital assets off the platform. Go to Source Powered by WPeMatico
The incoming governor of the Philippine central bank, Felipe Medalla, has suggested that people that invest in cryptocurrencies like bitcoin are adherents of the Greater Fool Theory. He also argued that people investing in cryptocurrencies are doing so because they want to “hide their money from the government.” A ‘Very Scary’ Investment Strategy The new … Read more
Payments giant Mastercard has announced it is working to bring direct payment support for a number of NFT and Web3 platforms with its cards. According to the company, this will enable more customers to enter the industry as the barrier to acquiring such digital goods is lowered via more flexible payment products. Mastercard To Enable … Read more
The company said there will be a $1,000 daily spending limit, but no personal information is required. Go to Source Powered by WPeMatico
Despite the imminent possibility of serving jail time, proactively owning up to the allegations resulted in Hayes being sentenced to six months of house arrest and two years of probation. Go to Source Powered by WPeMatico