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.
Category: KYC
Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud Americans
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 […]
Crypto Derivatives Exchange BitMEX Says All Users Are Now Verified
After getting in hot water with U.S. regulators last year, the exchange has rolled out mandatory verification for all users.
After Know Your Customer debacle, BitMEX reports 100% of users are verified
Controversial crypto derivatives trading platform BitMEX says its entire user base has completed the obligatory Know Your Customer process.
What Does It Cost to Become an FCA-Approved Exchange? EXMO Execs Explain
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.
ShapeShift Is Going Full DeFi to Lose KYC Rules
Erik Voorhees’ ShapeShift is morphing into a decentralized exchange (DEX). It’s losing the KYC restrictions at the same time.
A Commentary On FinCEN’s Proposed KYC Requirements
“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.
Democracy Demands a Say in the Future of Money
The U.S. Treasury’s decision to impose know-your-customer rules to private cryptocurrency wallets is flawed in more ways than one.
SEC vs. Ripple: A predictable but undesirable development
Such regulation by enforcement does indeed run the risk of stifling important and valuable innovation in the crypto space.
Exmo hackers withdraw part of stolen funds via Poloniex, exchange confirms
About $4 million of crypto stolen in Exmo hack was allegedly withdrawn through Poloniex, the exchange said it froze several accounts.