KYC tools can minimize hassle for US crypto market, FTX CEO says
FTX will now use phone numbers to confirm user’s jurisdiction and names in addition to testing new KYC tools. Go to Source Powered by WPeMatico
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Binance cuts withdrawal limits, rolls out tax reporting tool
Existing Binance users will not be able to withdraw more than 0.06 BTC per day without completing full KYC verification, effective in August. Go to Source Powered by WPeMatico
Brazilian Authorities Seize $33 Million in Money Laundering Investigation Linked to Cryptocurrency Exchanges
The Brazilian authorities seized $33 million linked to a money-laundering investigation involving cryptocurrency exchanges. The operation, called “Exchange Transaction” by the Brazilian police, involved six search warrants in different locations of the country. These searches were directed to find shell companies that used cryptocurrency exchanges for alleged money laundering purposes. Brazilian Police Seize $33 Million … Read more
Crypto Derivatives Exchange Bybit to Introduce Stringent KYC Policy
The British Virgin Islands-based Bybit Fintech Limited has announced the cryptocurrency derivatives exchange is introducing an updated know-your-customer (KYC) policy on July 12. Bybit notes that it already had certain KYC requirements implemented, but the new system reform is meant to “improve security compliance for all traders.” Bybit Says Companies and Individual Clients Mandated to … Read more
Bybit crypto exchange to impose KYC rules
The world’s fifth-largest cryptocurrency derivatives exchange is implementing KYC rules to improve security compliance. Go to Source Powered by WPeMatico
HSBC becomes first foreign entity onboarded to Dubai’s KYC blockchain
HSBC plans to improve the KYC process for local investors and corporate clients by leveraging blockchain technology. Go to Source Powered by WPeMatico
Echoing Cuban, Novogratz says DeFi should ‘play by the rules’, or ‘pay the piper’ later
Mike Novogratz suggests DeFi projects add KYC and AML features now instead of waiting on regulators to crack down on the entire sector. Go to Source Powered by WPeMatico
Revised Bill ‘On Virtual Assets’ Aims to Regulate Ukraine’s Crypto Space This Summer
The Ukrainian parliament has released an updated version of the draft law “On Virtual Assets.” The revised bill requires exchanges to obtain government authorization, disclose their ownership and implement mandatory KYC procedures. The document has been criticized by regulators in Kyiv but the government wants the legislation passed before the parliament’s summer break. Draft Law … Read more
Is there a right way to regulate crypto? Yes, and this is how
Cryptocurrency is a promising asset class for people and investors, but the lack of proper regulation slows down its innovation. Go to Source Powered by WPeMatico
Crypto firms not meeting AML standards, says UK minister
Only five crypto firms have received FCA AML registration after the authority became the official money laundering supervisor for crypto businesses last year. Go to Source Powered by WPeMatico