KYC

The most money laundering-friendly crypto exchanges in Europe

CipherTrace, a developer of anti-money laundering, cryptocurrency forensics, and blockchain threat intelligence solutions, claims that Europe has the highest number of virtual asset service providers (VASPs) with deficient KYC procedures, followed by the strongest Asia-Pacific (APAC) region, and North America. Their 2020 Geographic Risk Report argued that “effective Know-Your-Customer (KYC) protocols are an essential component […]

Digitex to remove KYC to protect user data

Crypto Exchange Digitex Removes KYC to Protect User Data

While some global crypto exchanges move to expand Know Your Customer (KYC) rules, some major rivals claim that crypto platforms don’t need KYC at all. Digitex, a Seychelles-based crypto derivatives exchange, will start removing KYC identification this week in response to a major user data leakage that happened last month. Digitex will have no KYC […]

Blockchain KYC Platform in Dubai

Dubai Welcomes Global Businesses with First Blockchain KYC Platform

Dubai International Financial Centre (DIFC) and Mashreq bank announced the launch of their new blockchain data-sharing platform on March 1st. This platform will allow licensed businesses and corporations to open digital bank accounts instantly by verifying their identities via an internal blockchain. Mashreq accomplishes this by removing the existing paper-based KYC procedure and replacing it […]

Crypto in latin america

Crypto Contributes to Money Laundering Problems in Latin America

Amid a major economic downturn, countries in Latin America (LATAM) are increasingly suffering from money laundering through cryptocurrencies, a new report says. Cryptocurrencies like Bitcoin have become a major tool of organized crime groups and hackers in LATAM countries, according to a Feb 27 report issued by threat intelligence firm IntSights. Titled “The Dark Side […]

Bithumb launches zero-fee transfers to global platform

South Korea’s Bithumb Launches Zero-Fee Transfers to Global Platform

South Korea’s largest cryptocurrency exchange, Bithumb, has announced it will take another step towards global expansion. To do that, it aims to strengthen integration with its international arm. On Feb 26, Bithumb launched a new digital asset transfer service between the South Korean exchange and Bithumb Global, a new international digital asset exchange released by […]

KYC blockchain platform

Moody’s Corporation Give Thumbs Up to UAE’s KYC Blockchain Platform

Moody’s Corporation has said that the new Know Your Customer blockchain platform in the UAE is credit positive for the nation’s lenders. According to the report by local media outlet The National on Feb 26, the rating agency has said that the platform will improve asset quality and boost profits. Per last week’s report, a […]

sectors realizing full potential of DeFi protocols in 2020

Sectors Realizing the Full Potential of DeFi Protocols in 2020

As the new decade unreels, a new wave of disruption seems to be coming to the shores of the global financial system. That wave is called decentralized finance protocols. Decentralized Finance, or DeFi, simply refers to financial software that is built on the blockchain to make it easy for anyone to piece together digital assets […]

BitPay

BitPay in Trouble as The New Bitcoin Upgrade Disables BIP70

The cryptocurrency payment processor BitPay might encounter difficulties while doing business. This is because the developers are planning to disable support for the method the firm uses to create billing addresses…