Archive | kyc

Blockchain Real Estate Platform: ‘Security Token Would Kill Our Business’

Industry experts and lawyers discussed whether companies should issue security tokens in a panel debate at real estate-focused event BitcoinCRE on June 14. Part of London Tech Week, the event looked at regulations across the world and happened hours before Ether was declared ‘not a security‘ by the SEC. ‘A Security Token Would Kill Our Business’… […]

Tezos Foundation Announces Investor KYC and AML Procedure One Year After Raising Money

Even though it appears the Tezos team has successfully addressed most of the problems holding the project back, more controversy looms on the horizon. More specifically, the team has made it clear they will perform thorough KYC and AML checks for all investors. It’s a remarkable decision, considering that those users contributed nearly a year […]

Another US Bitcoin Trader Faces Prison for Illegal Money Transmission

This week in Southern California a Los Angeles woman who called herself the ‘Bitcoin Maven’ will be sentenced this Monday after pleading guilty for illegal money transmission. According to law enforcement, the woman made close to $300,000 USD annually by selling BTC on the peer-to-peer exchange Localbitcoins.   Also read: Bitcoin Cash Innovation Continues with the […]

Blockchain Is Becoming China’s Darling, but Crypto Suffers From Beijing’s Distrust

Last week’s comments by China’s president Xi Jinping that the “blockchain was 10 times more valuable than the internet” clearly highlights the direction that the Chinese government is taking regarding the cryptocurrency space, according to Cointelegraph Adding to those comments, the president referred to blockchain as “a part of the technological revolution”. If this “revolution” […]

More Than 2 out of 3 Crypto Exchanges Don’t Know Their Customers (KYC)

A recent study held among 25 different cryptocurrency exchanges across Europe and the US revealed that only 32% perform full KYC identity checks on their users, writes Bitcoinist. The study conducted by analytics house P.A.ID Strategies that out of these 25 exchanges, all based in the US and Europe, two-thirds failed to comply the requirements […]

Two Thirds of US, EU Crypto Exchanges Fail to Verify Customer Identities

Analyst P.A.ID Strategies has revealed the results of research into the on-boarding practices of cryptocurrency wallets and exchanges across the U.S. and Europe, research that focused on which of these crypto service providers are using Know Your Customer (KYC) checks when on-boarding customers. These companies might have to change their protocols when the EU’s anti money… […]

Cryptocurrencies Are Now Commodities Subjected to Futures Trading in Indonesia

The Commodity Futures Trading Supervisory Agency (Bappebti) has said that cryptocurrencies are a commodity that can be subject to futures trading. This comes despite a central bank ban on fintech companies using digital currencies and government warnings to investors. Futures Trading Expands to Indonesia As reported by, cryptocurrencies will now be subject to trading… […]

Hackers Demand $1 Million Ransom in XRP for Stolen Bank Data

Hackers have demanded a $1 million ransom to be paid in Ripple (XRP) for stolen personal data of 90,000 Canadians. They exploited the systems of two Canadian banks and threatened to release the user information unless their demands were met. Hackers Exploit Bank Weaknesses The hack was revealed on Monday by the multinational Bank of… […]

GDPR Day 1: Apprehension, Nonchalance Dominate Mood of Crypto SMEs

As the first day of Global Data Protection Regulation (GDPR) implementation comes to a close, smaller business owners and investors active within the cryptocurrency scene find themselves coming to terms with a new period of crypto-related commerce, trade and enterprise. Along with recent EU AML directives now encompassing cryptocurrency, some have expressed lingering concerns on […]