KYC – Page 17 – Ƀitsell X

LocalBitcoins Quietly Suspends Accounts in Multiple Regions Without Notice

January 28, 2020

Finnish P2P exchange LocalBitcoins is allegedly quietly suspending user accounts, citing an “enhanced due diligence process.” Popular Bitcoin (BTC) exchange platform LocalBitcoins is allegedly suspending user accounts with little fanfare, citing an “enhanced due diligence process.” Finland-based LocalBitcoins, one of major global peer-to-peer (P2P) crypto exchanges, has reportedly suspended user accounts in some countries in…
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Ukraine to Block Crypto Wallets for Illicit Funds, Finance Minister Says

January 25, 2020

Oksana Markarova, Ukraine’s Finance Minister, names the local authority that will be able to track the sources of origin of crypto funds. Ukrainian authorities will be able to “block crypto wallets” in order to seize illegally obtained assets, a notice on the country’s Ministry of Finance says. Oksana Markarova, Ukraine’s Finance Minister, reportedly said that…
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Deribit Releases Specifics of New KYC Policy Following Move to Panama

January 21, 2020

Deribit, a crypto futures and options exchange moving from the Netherlands to Panama to avoid new E.U. regulations, has clarified its new AML policy. Deribit, a crypto futures and options exchange that is moving from the Netherlands to Panama to avoid Europe’s new Anti-Money Laundering law has released its newly updated Know Your Customer (KYC)…
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FCA’s New AML Regime – UK’s Crypto Market Will Have to Adapt in 2020

January 21, 2020

As the FCA looks to shake things up under their new AML regime, how will the U.K. and the global cryptocurrency industry react? The Financial Conduct Authority (FCA) is now the United Kingdom’s sole Anti-Money Laundering (AML) authority for the crypto business. After a decade of compliance under a laissez-faire approach to AML legislation, U.K.-based…
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Crypto Fights for Freedom in India’s Supreme Court, Critics Cite Risk

January 19, 2020

As India’s Supreme Court inches closer to giving its final verdict on RBI’s crypto ban, experts believe the judgment will favor crypto. Following the session that took place last August, a three-judge panel from India’s Supreme Court reconvened once again this week to discuss the much-hyped Crypto v. RBI case. During the last hearing, the…
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New EU AML Compliance Laws Could Disrupt the Crypto Industry

January 18, 2020

As the 5AMLD is signed into law, turbulent times lie ahead for the crypto industry, experts discuss the changes. On Jan. 10, the European Union’s 5th Anti-Money Laundering Directive (5AMLD), was officially signed into law. The legislation will give sweeping powers to compliance organizations and law authorities. However, aside from tracking dirty money to offshore…
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Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019

January 16, 2020

Binance and Huobi received over 52% of total $2.8 billion in illicit Bitcoin transfers in 2019, according to a new Chainalysis report. Binance and Huobi have together received over 52% of total $2.8 billion illicit Bitcoin (BTC) transfers in 2019, according to a new report. Chainalysis’ findings Over the course of 2019, criminal entities moved…
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Crypto Derivatives Exchange Leaves EU for Panama, Expands KYC

January 9, 2020

Crypto exchange Deribit leaves the Netherlands for Panama to avoid demanding EU regulations that the Dutch nation might adopt. Crypto derivatives exchange Deribit is leaving the European Union for Panama to avoid new AML rules while changing its Know Your Customer (KYC) requirements. Deribit B.V., the current Netherlands-based company responsible for the Deribit.com exchange, will…
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Privacy Coins in 2019: True Financial Freedom or a Criminal’s Delight?

January 2, 2020

What did 2019 bring by way of privacy coins in criminality, how have things changed, and what is the 2020 outlook? The right to privacy is a fundamental prerequisite for peace of mind and security. The idea that only criminals have something to hide is strange. Contrarily, privacy is sought by almost everyone. Yet, it…
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Did 2019 Deliver on All That Was Promised for the Crypto Industry?

December 30, 2019

Has 2019 lived up to the expectations of the crypto community and those working in the industry, and what are the biggest disappointments? Disappointment isn’t always a bad thing. It can be a spur, motivating one to work harder to meet expectations and goals. It is in this spirit that Cointelegraph informally surveyed members of…
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Category: KYC