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# KYC News

May 24, 2019 by at News, Regulation
The Financial Services Agency (FSA), which doubles as both Japan’s crypto and financial regulatory watchdog, has ordered all bitcoin trading venues and digital assets exchanges in the region to strengthen their know-your-customer (KYC) and anti-money-laundering (AML) measures, as part of preparation for the upcoming G-7 summit and FATF inspection, reports...
May 22, 2019 by at News, Regulation
Cryptocurrency exchange Bittrex on May 21, 2019, announced that it had partnered with blockchain security solutions firm IdentityMind to bolster its anti-money laundering (AML) measures. Tightening Security Measures The Financial Action Task Force’s (FATF) persistence to establish strict crypto regulations across the globe has weighed down on exchange platforms who...
While several projects prefer to use centralized repositories to store data during Know Your Customer (KYC) procedures, these databases exhibit several limitations such as susceptibility to hacks and high cost of management, which can be mitigated by distributed ledger technology (DLT), reports TechRadar on May 14, 2019. Centralized Databases are...
April 24, 2019 by at Exchange, News, Regulation
Japan’s Financial Services Agency (FSA) recently investigated two cryptocurrency exchanges which made significant changes in its management as reported by Reuters. The regulatory watchdog was on the lookout for the modalities put in place by these platforms to prevent money laundering and to protect customer funds. FSA Takes Exchanges to...
April 12, 2019 by at Business, Exchange, News
Malta-based cryptocurrency exchange Binance announced that they have partnered with blockchain security firm CipherTrace to bolster their anti-money laundering (AML) measures. This according to a Binance blog post on April 11, 2019. Recent Developments Call for Extra Security Measures The use of cryptocurrencies to orchestrate money laundering schemes has been a...
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