Category: KYC

Bad for Business: How KYC/AML Makes Everyone a ‘Terrorist’

Bad for Business: How KYC/AML Makes Everyone a ‘Terrorist’Two reports from risk solutions group Lexisnexis assert that anti-money laundering (AML) and know your customer (KYC) policies can negatively affect a business’s bottom line and customer service significantly. A recent trip to the local post office for a money order certainly had a negative effect on my own experience, thanks to the same regulations, […]

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How to Trade Crypto in Person Safely

How to Trade Crypto in Person SafelyWith mainstream exchanges becoming progressively cumbersome due to privacy invasive policy and regulation, some crypto traders are switching to more private, face-to-face trading. While this route isn’t for everyone, and comes with unique risks, it does offer a very real solution to many of the problems plaguing mainstream exchanges currently. The goal of this breakdown […]

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NIXT – Nexinter Launches Exchange Offering Using SLP

NIXT - Nexinter Exchange OfferingToday, NextHash and Bitcoin.com have entered a technical partnership to design and structure the NIXT utility token.

NIXT token is being listed in its fully operational exchange Nexinter on top of Bitcoin Cash, using the Simple Ledger Protocol (SLP) framework.

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Traders Bemoan New Localbitcoins Identity Requirements

Traders Complain About Localbitcoins Latest Identity RequirementsRecent data shows that countries with corrupt governments have a strong correlation with Localbitcoins trade volumes. However, even though the over-the-counter (OTC) marketplace Localbitcoins has grown massive over the years, traders are complaining about heightened know-your-customer/anti-money laundering requirements. The exchange recently changed its KYC/AML guidelines on September 1 and users say more verification mandates might […]

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Washington Elite Announces Summit in Vienna

PR: Washington Elite Announces Summit in ViennaThe Austrian capital hosts some of the world’s brightest minds in smart city, crypto, M&A and renewable energy October 11 – 12 during the Washington Elite AI and Blockchain Summit – Smart City Edition in Vienna, Austria.

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Crypto Needs Less Government Regulation – Not More

Crypto Needs Less Government Regulation – Not MoreA recent opinion article by Peter Lin, “Why Regulation Is The Best Thing For Crypto,” presents common arguments on why the state and state-affiliated institutions should administer cryptocurrency. Underlying the arguments is an assumption: the free market cannot provide necessary standards for crypto and the state must step into the void. Also read: Why the […]

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EU Members Adopt Tougher Crypto Rules Than AML Directive Requires

EU Members Adopt Tougher Crypto Rules Than AML Directive RequiresEurope is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s Fifth Anti-Money Laundering Directive (AMLD5) […]

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Can the Fed Kill Bitcoin? Navigating the Chokepoints of Tax Law and KYC

Can the Fed Kill Bitcoin? Navigating the 'Chokepoints' of Tax Law and KYCTaxes. The one word that can kill any buzz in seconds flat. Whether you’re a libertarian ranting about how taxation is theft or one of those fabled creatures who is actually happy to file them as their so-called civic duty, one fact remains: those who don’t give the government a bite — or make mistakes […]

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Swap and Track BCH on the New Shapeshift Suite for Noncustodial Crypto Management

Swap and Track BCH on the New Shapeshift Suite for Noncustodial Crypto ManagementShapeshift, the company that allows traders worldwide to exchange hundreds of cryptocurrency pairs launched its new crypto platform that now offers an integrated suite of digital asset management in a noncustodial fashion. The firm believes the latest release offers a true end-to-end solution that aims to bolster free market finance. Also Read: Bitcoin Cash Scaling […]

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Enforcement of Updated Crypto Guidelines From FATF Has Far-Reaching Implications

Enforcement of Updated Crypto Guidelines From FATF Has Far-Reaching ImplicationsThe FATF (Financial Action Task Force) has revealed updated guidelines that would require cryptocurrency and digital asset exchanges—and potentially independent business owners and crypto holders—to share sensitive customer information as VASPs (Virtual Asset Service Providers), compromising user privacy and restricting crypto market access. Also read: BCH Development Fund Doubles Its Goal After a Successful Month […]

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Privacy Is Paramount: How KYC Makes Us All Less Free

Privacy Is Paramount: How KYC Makes Us All Less FreeKYC (Know Your Customer) policies and endless private data collection, coupled with force-backed, violent legislation compromise the utility and ethics of crypto trading. An uncompromising stance on user privacy is critically important to crypto traders and peer-to-peer transaction. It’s not about having nothing to hide, but about sound economics, human dignity, and creating a more […]

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PR: Monarch Wallet Updates Bring SLP Support

Monarch Wallet Updates Bring SLP SupportMonarch Blockchain Corporation has updated the Monarch Wallet for Android & iOS with a new user interface, full transaction history support for all tokens, SLP token support, SLP Faucet where users can receive free SLP tokens and their Universal KYC Has Also Been Launched!

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Lithuania to Adopt Crypto Regulations Even Stricter Than the EU’s

Lithuania to Adopt Crypto Regulations Stricter Than the EU RulesLithuania, one of the Baltic tigers that has in past few years demonstrated it doesn’t shy away from new technologies and the digital economy, is preparing to introduce stricter rules for crypto companies. The government in Vilnius is working on amendments that according to officials will go beyond the requirements of the latest, fifth EU […]

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Rebiton Allows You to Buy Bitcoin and Keep Your Privacy

Rebiton Allows You to Buy Bitcoin and Keep Your PrivacyPurchasing bitcoin ought to be quick and easy, but over the years, encroaching KYC has made that task more complex. Rebiton is a service that cuts through the red tape, making it possible for anyone to buy up to $999 without the need for ID. Also read: How 5 Asian Countries Regulate Cryptocurrency Re-Up on […]

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Finland’s Regulatory Watchdog Plans to Supervise Localbitcoins Operations

Finland's Regulatory Watchdog Plans to Supervise Localbitcoins OperationsOn Monday, the Helsinki-based peer-to-peer crypto exchange Localbitcoins announced it is adding several different identification processes in order to improve AML and KYC requirements. The move to bolster the new customer verification procedure follows Finland’s Financial Supervisory Authority (FSA) mandating supervision over exchange operations. Also read: Mineable Cryptocurrencies Are Far More Valuable Than Non-Mineable Coins […]

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In the Daily: Tokenized ETFs, Chainalysis, Binance Labs in Argentina

In the Daily: Tokenized ETFs, Chainalysis, Binance Labs in ArgentinaIn this edition of The Daily we cover an exchange that offers cryptocurrency investors access to tokenized ETFs based on major indices, a response from Chainalysis to the recent outcry against blockchain surveillance services abusing customer data, and a program to support startups by Binance Labs in Argentina. Also Read: Israel Securities Authority Wants a […]

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A Forensic Analysis of Blockchain Surveillance Companies

A Forensic Analysis of Blockchain Surveillance CompaniesBlockchain analysis is big business. The U.S. government alone has spent $6 million on transaction mapping tools, while cryptocurrency exchanges routinely partner with compliance companies that promise to track and trace the origin of customer funds. Hated by many bitcoiners, blockchain forensics is a controversial field with a plethora of players. The following analysis shines […]

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Coinbase Severs Ties With Hacking Team Members While Data-Sharing Backlash Intensifies

Coinbase Backlash Intensifies Amidst Data-Sharing ConcernsCoinbase has been trending on crypto Twitter all week, but for all the wrong reasons. The #DeleteCoinbase hashtag has circulated on account of the dubious practices of Neutrino, the blockchain surveillance team it acquired. Now, the California-based exchange has bowed to public pressure and severed ties with key members of the Neutrino team. Also read: […]

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Crypto Exchange Circle Partners With Financial Surveillance Provider Nice Actimize

Crypto Exchange Circle Partners With Financial Surveillance Provider Nice ActimizeOn Feb. 27, Boston-based cryptocurrency finance firm Circle announced a partnership with Nice Actimize financial crime detection and prevention technologies unit. Circle follows other large cryptocurrency exchanges that have opted to add a compliance and surveillance solution. Also read: Bitcoin Whales Have Accumulated Thousands of Coins in the Last 2 Months Goldman Sachs-Backed Crypto Exchange […]

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How Crypto Compliance Requests Strip User Privacy

Crypto Card Compliance Requests Risk Stripping User PrivacyMoney transmitting services that enable users to switch from crypto to fiat are a valuable resource. There’s still a shortage of cryptocurrency off-ramps, and thus reliable services that offer a reasonable exchange rate are to be cherished. But the convenience that crypto debit cards and other crypto-fiat exchanging services offer comes at a high price […]

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In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC’s Connexus Cloud

In the Daily: Sirin Labs’ Smartphone, Middle East’s Cbx Exchange, IPC's Connexus CloudIn this edition of The Daily we cover a number of cryptocurrency-related business collaborations from around the world. These include Sirin Labs and Simplex, Middle East-focused crypto exchange Cbx, and Heliocor, IPC and ICE Data Services. Additionally covered is an update from the FBI which is conducting an investigation into Bitconnect. Also Read: Coinflex Launches […]

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Localbitcoins to Introduce New User Verification Rules

Peer-to-peer crypto exchange Localbitcoins is preparing to implement updated requirements for the identity verification of its users. The company recently revealed it’s cooperating with regulatory agencies in Finland on the implementation of the latest EU anti-money laundering rules. Also read: 3 Technical Proposals for Increasing Bitcoin’s Privacy P2P Exchange Localbitcoins Advising Finnish Regulators In a […]

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The Wrapped Bitcoin Project Has Officially Launched on Ethereum

The Wrapped Bitcoin Project Has Officially Launched on EthereumOn Jan. 30, a group of cryptocurrency developers and organizations officially launched a project called Wrapped Bitcoin (WBTC) on the Ethereum network. The ERC20 token is a coin backed by bitcoin core (BTC) reserves and has started trading on several exchange platforms. Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings The Introduction of […]

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