Know Your Customer Archives

India expects digital currency firms to comply with national money laundering legislation

Business

Wahid Pessarlay

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10 March, 2023

India expects digital currency firms to comply with national money laundering legislation

Firms offering digital currency services in India are now covered by the PMLA of 2002, under which they are mandated...

Pakistan banks to develop blockchain-based eKYC platform

Business

Wahid Pessarlay

-

10 March, 2023

Pakistan banks to develop blockchain-based eKYC platform

eKYC platform Consonance will rely on blockchain to provide banks and financial institutions with a standardized framework to carry out...

Binance’s ties to US hedge funds probed by DoJ as outflow surges

Business

Steven Stradbrooke

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10 January, 2023

Binance’s ties to US hedge funds probed by DoJ as outflow surges

Former DoJ prosecutor John Ghose said Binance "did not have a reputation of being a responsible exchange" as authorities look...

Coinbase pays $100M to atone for shoddy AML/KYC compliance

Business

Steven Stradbrooke

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5 January, 2023

Coinbase pays $100M to atone for shoddy AML/KYC compliance

The New York DFS announced that it had reached a $100m settlement with Coinbase after a probe identified failures in...

Scammers turn to KYC actors for hire to target Web3 investors: CertiK

Tech

Steve Kaaru

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23 November, 2022

Scammers turn to KYC actors for hire to target Web3 investors: CertiK

CertiK unearthed a fast-rising underground market with over 500,000 members where Know Your Customer verification is sold for as low...

Swiss financial regulator to keep threshold for KYC on digital asset transactions

Business

Jordan Atkins

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4 November, 2022

Swiss financial regulator to keep threshold for KYC on digital asset transactions

Beginning January 2023, wallet providers and digital asset exchanges in Switzerland will be mandated to follow the new KYC regulations,...

Editorial

Kurt Wuckert Jr

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13 October, 2022

KYC sucks

As a subset of Anti Money Laundering (AML) laws and regulations, Know Your Customer places a lot of burden on...

CFTC charges Digitex exchange and CEO who called KYC programs ‘unreasonable’

Business

Steve Kaaru

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5 October, 2022

CFTC charges Digitex exchange and CEO who called KYC programs ‘unreasonable’

Filed at the Southern District of Florida, the complaint accuses Digitex of operating a digital asset derivatives exchange from an...

CFTC sues decentralized autonomous organization and its token holders

Business

Steve Kaaru

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27 September, 2022

CFTC sues decentralized autonomous organization and its token holders

The U.S. regulator settled with bZx founders for $250,000 for illegal margined and leveraged commodity transactions, while also suing the...

Former BitMEX exec Greg Dwyer pleads guilty to BSA violation

Business

Steve Kaaru

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12 August, 2022

Former BitMEX exec Greg Dwyer pleads guilty to BSA violation

Greg Dwyer pleaded innocent at first and vowed to fight the charges, but having seen that the three BitMEX founders...

Portuguese banks ban digital currency exchanges—regulatory compliance is crucial

Editorial

Gavin Lucas

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11 August, 2022

Portuguese banks ban digital currency exchanges—regulatory compliance is crucial

As the larger picture becomes clearer, we'll double down and repeat it: in the coming years, regulators will squeeze those...

CoinDCX: Restricted withdrawals will strengthen compliance and risk framework

Business

Wahid Pessarlay

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30 June, 2022

CoinDCX: Restricted withdrawals will strengthen compliance and risk framework

The notice comes after users took to social media to decry the lack of explanation for the suspension of withdrawals...

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