As the crypto markets mature and institutional money flows into the space, technology to detect fraud and money laundering involving digital assets is more important than ever.
The U.S. has sentenced a cryptocurrency exchange owner to 10 years in prison. He “knowingly and intentionally engaged in business practices designed to both assist fraudsters in laundering the proceeds of their fraud and to shield himself from criminal liability,” the Department of Justice alleges. Crypto Exchange Owner Sentenced to 10 Years in Prison The […]
After getting in hot water with U.S. regulators last year, the exchange has rolled out mandatory verification for all users.
Controversial crypto derivatives trading platform BitMEX says its entire user base has completed the obligatory Know Your Customer process.
The U.K.-registered EXMO exchange is one of the many crypto startups to go through the FCA approval process. Execs detailed the work it took to get there.
Erik Voorhees’ ShapeShift is morphing into a decentralized exchange (DEX). It’s losing the KYC restrictions at the same time.
“My conviction is that address verification is unlikely to be very productive in fighting financial crime.”
The post A Commentary On FinCEN’s Proposed KYC Requirements appeared first on Bitcoin Magazine.
The U.S. Treasury’s decision to impose know-your-customer rules to private cryptocurrency wallets is flawed in more ways than one.
Such regulation by enforcement does indeed run the risk of stifling important and valuable innovation in the crypto space.
About $4 million of crypto stolen in Exmo hack was allegedly withdrawn through Poloniex, the exchange said it froze several accounts.