Tag: kyc

Sep 23 2021

Aug 26 2021

El Salvador’s Central Bank Issues Guidelines For Banks, Raises Questions

El Salvador’s Central Bank opened the door for banks to develop their own wallets. The organization published the "Guidelines for the Authorization and Operation of Digital Wallet Platforms...

Crypto sees potential trouble as US blocks changes to infra bill

Aug 26 2021 Published at CryptoSlate under tags  kyc regulation taxes

The House Rules Committee has blocked infrastructure bill changes and voted 220-212 to lock in the procedure, with a resolution approved on Tuesday afternoon. The Committee that determines the rules...

Aug 23 2021

Binance (BNB) signs up ex-Singapore Exchange chief to head regional unit

Aug 23 2021 Published at CryptoSlate under tags  binance bnb kyc legal regulation

Binance, the largest crypto exchange in the world by trading volume, in its bid to combat its battle with regulatory authorities around the world has appointed Richard Teng, the former chief regulatory officer of the Singapore Exchange (SGX), as the head of its Singapore’s branch. Binance hiring regulatory chiefs to be regulatory compliant Teng, in his...

Aug 20 2021

Binance Implements Mandatory Identity Verification For All Users

The bitcoin exchange now requires all users to upload an ID, a selfie, and undergo facial verification, dismissing possible downsides.Bitcoin exchange Binance has announced changes on its account verification policies, implementing mandatory, hardened know-your-customer (KYC) procedures for all users. Effective immediately, all new users will be required to provide additional personably identifiable information...

Binance (BNB) makes KYC mandatory for every service on its platform

Aug 20 2021 Published at CryptoSlate under tags  binance binance exchange bnb kyc regulation

In an announcement today, embattled crypto exchange, Binance has emphasized its readiness to be fully compliant with various regulatory measures, as it now requires compulsory Verification for all its users, effective immediately. In the Friday...

Crypto Exchange Binance Enhances Global KYC Requirements

All new users are required to complete Intermediate Verification to access Binance products.

Aug 15 2021

KYC Will Not Protect Us, Bitcoin And Encryption Will

Aug 15 2021 Published at Bitcoin Magazine under tags  aml culture encryption kyc personal data

As regulators attempt to institute KYC and AML rules at the peril of our personal data, Bitcoin and encryption offer salvation.Our world is filled with atrocious threats, crimes and violence. Human trafficking, child abuse, state- sponsored violence, terrorism and a laundry list of other heinous acts require tools to fight back and ultimately reduce their frequency to as close to zero as possible....

Aug 07 2021

Cardano (ADA) founder calls for action to combat Senate bill

Aug 07 2021 Published at CryptoSlate under tags  ada kyc regulation taxes

Cardano (ADA) founder Charles Hoskinson recently addressed the new provision in the bipartisan bill that...

Jul 28 2021

Binance limits daily withdrawals to $2,000 for basic accounts amid regulatory woes

Jul 28 2021 Published at CryptoSlate under tags  btcusd exchanges kyc regulation

Major cryptocurrency exchange Binance today announced that users who passed only “Basic” verification soon won’t be able to withdraw more than 0.06 Bitcoin (roughly $2,000) worth of funds per day—down from the previous limit of 2 BTC (around $80,000...

Jul 20 2021

EU Proposes Law To KYC All Wallet Transfers

Jul 20 2021 Published at Bitcoin Magazine under tags  bitcoin business european union kyc law

The EU proposed a law that would force companies engaging in BTC transactions and transfers to collect identities of senders and receivers.The European Commission has proposed a law that would force companies that engage in Bitcoin transactions and transfers within the EU to collect the identities of senders and receivers. Under this law Bitcoin transactions from companies would then become know-your-customer...

Jul 06 2021

Bitcoin Exchange Bybit To Require Stricter KYC, Including Facial Recognition

Jul 06 2021 Published at Bitcoin Magazine under tags  business bybit kyc surveillance

Bitcoin derivatives exchange Bybit will require stricter KYC verification for users who wish to withdraw more than 2 BTC per day.Bitcoin derivatives exchange Bybit will require stricter know your customer (KYC) procedures for individuals and corporations who wish to withdraw more than 2 BTC on a given day, including facial recognition screening.“We have had KYC procedures on certain selected group of...

Jun 29 2021

President Bukele Clears Up Misconceptions About The Government’s Chivo Wallet

On June 24th, in a national broadcast, President Bukele cleared up misconceptions about El Salvador’s Bitcoin Law and presented the government’s wallet. That created a whole lot of new misconceptions about the app itself, the newly minted Chivo Wallet. Most of...

Jun 14 2021

Jun 03 2021

Why KYC Is Essential and Why We Might Ask You to Pass It

Anti-money laundering procedures are becoming essential in the world of crypto. Even when the community opinions on KYC verification are very diverse, using it continues to make the industry more transparent and secure every day. At times, we might also ask you to pass KYC. However, it's not a requirement for every user. You can go through this procedure in advance: write a...

May 21 2021

BlockFi users say they can’t withdraw funds after 701 Bitcoin blunder

May 21 2021 Published at CryptoSlate under tags  btcusd kyc legal

Users of the crypto lending platform BlockFi are reporting difficulties in withdrawing funds. This comes after a promotional campaign in which over 701 Bitcoin was given away by mistake. Some users say they have received...

Dutch Bitcoin exchange fends off Central Bank’s verification demands for crypto users

May 21 2021 Published at CryptoSlate under tags  btcusd exchanges kyc regulation

Netherlands-based crypto exchange Bitonic today announced that a recent court order has convinced the Dutch Central Bank (DNB) to withdraw its demands for “unlawful and onerous” user verification requirements such as...

May 03 2021

Thailand mandates ‘in-person’ KYC for crypto traders

May 03 2021 Published at CryptoSlate under tags  kyc regulation

Thailand’s crypto traders will be soon required to be physically present for opening an account at one of the many exchanges and wallet providers based in the country, local outlet...

Apr 02 2021

Why Proposed FATF Rules Could Be a Shock for DeFi

Dave Jevans, CEO of Cipher Trace, talks about what the new draft guidance from the FATF (Financial Action Task Force) means for DeFi, NFTs, and crypto in general. In this show, he breaks down: the six main areas the draft guidance covers, including the expansion of KYC regulatory standards into DeFi (1:07)...

Mar 29 2021

“Probably The Largest KYC Data Leak In History” Demonstrates The Importance Of Bitcoin Privacy

Mar 29 2021 Published at Bitcoin Magazine under tags  business hack kyc privacy

The alleged hack has left millions of users’ personal data — including passwords and addresses — available for 1.5 BTC on the dark web.As much as 8.2 terabytes of personal information data has allegedly leaked from users of India-based MobiKwik mobile payment’s wallet application and onto the dark web, according to a report from...

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