In its updated guidance on virtual assets and virtual asset service providers, the FATF recommends requiring more strict KYC/AML measures.The Financial Action Task Force (FATF) has updated its “Guidance for a risk-based approach to virtual assets...
Know Your Customer (KYC) guidelines are requirements that compel financial services providers to make an effort to identify their customers. Fulfilling KYC requirements often includes gathering personal information about these customers by asking them to submit...
For the last few weeks, the blockchain community had been waiting for the new regulations that were rumored to be proposed imminently. There were widespread speculations about their nature and effect on blockchain's future. A lot of worse case ideas were being heard, including those hinting at an end to private custody or sort of a blanket wallet ban. They were finally proposed...
When it comes to island-hopping crypto exchanges with relaxed know-your- customer rules, BitMEX could be just the tip of the iceberg.
Many see regulations as an impediment to innovation and success. This view is pervasive in the decentralized crypto ecosystem. There are those, however, who maintain a different point of view. An article posted by Entrepreneur posits that fintech regulations can be a good thing and bring about innovation in the industry. The article...
Japanese cryptocurrency exchange Fisco, formerly known as Zaif, is suing Binance for allegedly facilitating the laundering of some stolen funds. In 2018, Fisco suffered from a hack of $60 million and have now sued Binance in a U.S. court for "aiding and abetting" the process of the laundering scheme. Fisco alleges the laundering led to a loss of over $9 million worth of...
News 
