South Korea probes Upbit for 600K KYC violations
Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with Upbit’s business license renewal. Go to Source
Know-Your-Customer
Auto Added by WPeMatico
Academic paper suggests governments should attack public blockchains
Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations. Go to Source
‘Thousands’ Flock to World Liberty Financial Whitelist Following Trump’s Announcement
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 … Read more
AI deepfakes are getting better at spoofing KYC verification: Binance exec
The technology is getting so advanced, deepfakes may soon become undetectable by a human verifier, said Jimmy Su, Binance’s Chief Security Officer. Go to Source Powered by WPeMatico
FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers
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, … Read more
Aussie crypto exchange hints interest in Hong Kong base
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. Go to Source Powered by WPeMatico
Pakistan Banks to Use Blockchain Technology for KYC
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’ … Read more
Localbitcoins, the Pioneer P2P Bitcoin Exchange, Shuts Down After a Decade of Service Due to Crypto Winter
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 … Read more
Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations
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. … Read more
Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits
Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and withdrawal limits. Bybit to Limit Services for Traders Who Have Not Passed Identity Verification Crypto exchange Bybit will restrict some services that are … Read more
