KYC

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Research: Majority of EU, US Exchanges and Wallets Fail to KYC Users

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More than two thirds of the leading cryptocurrency exchanges and wallet providers on both sides of the Atlantic fail to conduct proper identity verification checks. According to new research into their onboarding practices, most of the studied platforms do not meet the requirements of the upcoming regulations under the updated EU anti-money laundering directive. Also … Read more

Cryptocurrency Exchange Hitbtc Suspends Services in Japan

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Hitbtc has suspended its services for Japanese residents to avoid any trouble with the country’s financial regulator since it is not authorized to operate in Japan. Users with Japanese IP addresses will be asked to provide their residency information within the exchange’s know-your-customer (KYC) procedure to prove they are not residents of Japan. Also read: Yahoo! … Read more

Cryptocurrency Exchange Verification Is Getting Weird

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Back in the day, before cryptocurrency was worth anything, an email address and a password was all you needed to login to an exchange. Then came 2FA, using email verification or Google Authenticator. Then came the third generation of secure sign-in methods, and that’s when things started getting weird. Also read: Darknet Market Rapture Has Been … Read more

Bitfinex Starts Sharing Customer Tax Data with Authorities

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Bitfinex, an exchange famed for its opaque banking arrangements, has begun ordering its users to submit their tax details. The platform, which is registered in the British Virgin Islands, a known tax haven, will retain this information and may share it with tax authorities in their customers’ jurisdiction. The news has caused quite a stir. … Read more