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“The financial services industry is spending $20 billion a year on AML and KYC. So I would ask you: is it even working? I don’t think it’s working” Go to Source Powered by WPeMatico
Two reports from risk solutions group Lexisnexis assert that anti-money laundering (AML) and know your customer (KYC) policies can negatively affect a business’s bottom line and customer service significantly. A recent trip to the local post office for a money order certainly had a negative effect on my own experience, thanks to the same regulations, … Read more
With mainstream exchanges becoming progressively cumbersome due to privacy invasive policy and regulation, some crypto traders are switching to more private, face-to-face trading. While this route isn’t for everyone, and comes with unique risks, it does offer a very real solution to many of the problems plaguing mainstream exchanges currently. The goal of this breakdown … Read more
Today, NextHash and Bitcoin.com have entered a technical partnership to design and structure the NIXT utility token. NIXT token is being listed in its fully operational exchange Nexinter on top of Bitcoin Cash, using the Simple Ledger Protocol (SLP) framework. The post NIXT – Nexinter Launches Exchange Offering Using SLP appeared first on Bitcoin News. … Read more
Recent data shows that countries with corrupt governments have a strong correlation with Localbitcoins trade volumes. However, even though the over-the-counter (OTC) marketplace Localbitcoins has grown massive over the years, traders are complaining about heightened know-your-customer/anti-money laundering requirements. The exchange recently changed its KYC/AML guidelines on September 1 and users say more verification mandates might … Read more
The Austrian capital hosts some of the world’s brightest minds in smart city, crypto, M&A and renewable energy October 11 – 12 during the Washington Elite AI and Blockchain Summit – Smart City Edition in Vienna, Austria. The post Washington Elite Announces Summit in Vienna appeared first on Bitcoin News. Go to Source Powered by … Read more
Global Market Insights projects that the global blockchain tech market will exceed $16 billion by 2024 Go to Source Powered by WPeMatico
We regularly hear how companies and governments lose control over data due attacks and leaks. The practice of storing personal data on central servers is vicious and must stop in favor of blockchains and new KYC methods based on zero-knowledge protocols Go to Source Powered by WPeMatico
A recent opinion article by Peter Lin, “Why Regulation Is The Best Thing For Crypto,” presents common arguments on why the state and state-affiliated institutions should administer cryptocurrency. Underlying the arguments is an assumption: the free market cannot provide necessary standards for crypto and the state must step into the void. Also read: Why the … Read more
Switzerland’s financial regulator has released guidance on regulatory requirements for payments on the blockchain Go to Source Powered by WPeMatico