UK crypto businesses to comply with FATF Travel Rule beginning in September
The U.K. passed legislation in 2022 to make it one of the few countries in compliance with the extension of the Travel Rule to crypto. Go to Source
KYC
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Identity checks on crypto exchanges at risk as AI deepfakes evolve
Once HeyGen’s AI-generated digital avatar is available to the public, users would be able to create a video with a real life-like digital avatar in just two minutes. Go to Source
Paypal USD: Boon for Ethereum but not decentralization, says community
Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC. Go to Source
Worldcoin rebuts reports of lackluster takeup as Altman cites Japan queues
A video shared by Worldcoin co-founder Sam Altman shows a long queue of people in Japan reportedly waiting to collect $50 worth of Worldcoin (WLD) tokens or 25 WLD. Go to Source Powered by WPeMatico
Privacy is not the core feature of Bitcoin, KuCoin CEO says
KYC is an important measure for crypto exchanges to protect and recover user funds in the case of theft or hacking, KuCoin CEO Johnny Lyu said. Go to Source Powered by WPeMatico
KuCoin crypto exchange to introduce mandatory KYC in July
KuCoin’s Know Your Customer checks will require new users to complete identity verification to access all services, while existing non-KYC users will not be able to deposit. Go to Source Powered by WPeMatico
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
Federal Reserve’s FedNow will integrate with Metal Blockchain
The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols. Go to Source Powered by WPeMatico
New White House standards strategy could have implications for crypto industry KYC
The Biden administration has released a strategy document focusing on standard setting for “critical and emerging” technologies such as blockchain and digital ID. Go to Source Powered by WPeMatico
Neobank introduces soulbound NFTs for wallet holders’ KYC information
The small New York-based neobank is seeking to improve crypto users’ experience by melding Web3 features and digital banking. Go to Source Powered by WPeMatico
