After former President Donald Trump revealed World Liberty Financial’s (WLF) whitelist signup, WLF’s X account shared that “thousands of people have joined” since the announcement. However, the excitement has been dampened by an influx of fake WLFI token scams flooding X. WLF: ‘Whitelist Is Already a Massive Success’ The crypto community has been haphazardly tracking…
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On Thursday, the crypto exchange Bitget, headquartered in Seychelles, announced its decision to implement comprehensive Know Your Customer (KYC) policies across its platform. These new KYC requirements are set to take effect on December 15, 2023. Bitget Rolls Out Mandatory KYC Procedures Bitget is updating its compliance with relevant financial regulations by introducing new KYC…
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Binance, the crypto exchange with the highest trade volume globally, is currently facing an investigation for suspected money laundering activities, as reported by the French publication Le Monde. The finance judicial investigation service of France is currently scrutinizing the actions of Binance’s subsidiary in the country. French Regulators Probe Binance Amid mounting challenges faced by…
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FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to customary know-your-customer and anti-money-laundering checks.” FTX’s European Arm Opens Withdrawals to Customers According to a press release published on Friday,…
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The CEO of Independent Reserve says Hong Kong’s “friendly” licensing regime makes it a worthy destination to set up shop, but there are other factors to consider. Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong as the city continues efforts to become a cryptocurrency hub. Set to…
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Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for KYC Checks Pakistan Banks’…
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Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the “ongoing crypto-winter,” which has left them unable to continue offering their bitcoin trading services. The Challenges Faced by Localbitcoins and its Ultimate Demise in the Crypto Market The first…
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Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021.…
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The blockchain security firm has uncovered a new tactic used by crypto scammers as the industry continues to improve its fraud detection capabilities. Crypto scammers have been accessing a “cheap and easy” black market of individuals willing to put their name and face on fraudulent projects — all for the low price of $8, blockchain…
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Equifax, which suffered a huge data breach in 2017, has partnered with privacy-centric blockchain company Oasis Labs for a decentralized ID offering for Web3 companies. Credit reporting company Equifax, known for suffering from one of the largest customer data breaches to date, has partnered with blockchain company Oasis Labs to build a Know Your Customer…
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