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According to the blockchain analysis firm Ciphertrace, major U.S. banks process roughly $2 billion in digital currency transactions that go undetected every year. Ciphertrace disclosed a slew of financial institutions have not deployed the right KYC/AML infrastructure to detect unregistered cryptocurrency transfers. Also read: US to Strictly Enforce Crypto Rules Similar to FATF Guidelines All … Read more
Two EU-based crypto firms are shutting down because of the upcoming EU Anti-Money Laundering rules Go to Source Powered by WPeMatico
Bottle Pay, a cryptocurrency payments provider from the U.K., has announced its decision to cease operations by the end of the year. Despite attracting some serious funding and expanding its user base significantly in the past few months, the company has found it unacceptable to continue to work under the upcoming EU regulations. AMLD5, the … Read more
Monero deems compliance to be the responsibility of exchanges, not cryptocurrencies Go to Source Powered by WPeMatico
Many cryptocurrency enthusiasts dislike the process of sharing identity documents with exchanges and other service providers PayTrie is experimenting with a different KYC solution, known as Express Verification. Sharing sensitive identity verification documents with third parties carries significant risks. Simplifying KYC Verification More often than not, a data breach of a third party handling this … Read more
Decentralized exchange CryptoBridge shuts down due to purported market conditions and regulatory pressure Go to Source Powered by WPeMatico
Coinbase has been awarded a patent for a system that finds and flags non-compliant accounts Go to Source Powered by WPeMatico
According to CipherTrace’s latest report, the total volume of crypto-related fraud and theft resulted in losses worth $4.4 billion in 2019 Go to Source Powered by WPeMatico
Lawyer Jake Chervinsky asks the public if identity verification is worth exposing the public to data leaks Go to Source Powered by WPeMatico
Since trying to ban Bitcoin in 2013, Thailand’s regulators have sought to embrace ICOs Go to Source Powered by WPeMatico