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IBS Moscow • September 22-25, 2018

International Blockchain Summit Moscow – large event in Russia dedicated to all the aspects of blockchain implementation: learn about the…

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Tag: KYC

Crypto Exchange Changelly Can Withhold Privacy Coins Due to “High Risk” KYC Concerns

Category: Altcoins, Business, Exchange, News

Crypto Exchange Changelly Can Withhold Privacy Coins Due to “High Risk” KYC Concerns

Monero (XMR) users have been complaining after finding out that cryptocurrency exchange Changelly can effectively “steal” their cryptocurrency. Changelly has been accused of requiring KYC documents after funds leave the wallet according to a tweet from September 4, 2018. Fans of the Privacy-Based Coins Profiled for “Suspicious Activity” According to reports, some Monero (XMR) users have been disappointed after finding…

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Civic: Solving Global Identity Management Crisis with its Innovative Blockchain Project

Category: Blockchain, Crime, News, Platform

Civic: Solving Global Identity Management Crisis with its Innovative Blockchain Project

In the decentralized distributed ledger technology (DLT) world, fintech firms and individuals alike carry out financial transactions without third party involvements. Yet, it is becoming increasingly essential to have a highly efficient identity verification system to eradicate the menace of identity theft by bad actors. To that point, Civic blockchain startup is determined to put all identity verification issues to…

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Dr. Doom: Bitcoin Will Be Worth $100 in Ten Years Time

Category: Altcoins, Bitcoin, Commentary, News, Regulation

Dr. Doom: Bitcoin Will Be Worth $100 in Ten Years Time

Even with the recent bitcoin price slump, crypto doomsday predictors such as Nouriel Roubini and his colleagues are determined to make sure the entire digital currency markets never moon again. In the latest development, more renowned economists have argued that governments’ harsh regulatory policies on cryptos would make bitcoin and other cryptocurrencies worthless soon. To the Abyss? According to reports,…

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How Hackers Launder Their Illicit Cryptocurrency Funds

Category: Altcoins, Bitcoin, Crime, News

How Hackers Launder Their Illicit Cryptocurrency Funds

Cyber-attacks on exchanges, ICO hacks, and crypto-demanding ransomware are an unfortunate but regular occurrence in the cryptocurrency space. As a result, cybercriminals manage to amass a substantial amount of cryptocurrencies from their illicit activities. According to a report released by Malware Bytes, there was a 90 percent increase in such attacks in 2017. Most of these hackers demanded their ransom…

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AML and KYC the Correct Tools for Widespread Cryptocurrency Acceptance

Category: Altcoins, Bitcoin, Blockchain, Finance, News, Regulation, Tech

AML and KYC the Correct Tools for Widespread Cryptocurrency Acceptance

Strict Anti-Money Laundering (AML) and Know-Your-Customer (KYC) laws need to be enforced for financial regulators and banks to consider cryptocurrencies as a legal tender, observes the Payments Source. Anonymity: A Boon or Bane? While cryptocurrencies have anonymity at the center of their ethos, several countries consider the lack of identity linked to a transaction akin to a criminal doing. For…

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ICO Azbit Announces Public Sale of AZS Security Tokens

Category: Press Releases

ICO Azbit Announces Public Sale of AZS Security Tokens

From May 14 to 16, 2018, New York hosted the Consensus 2018 blockchain technology summit, and the Azbit Limited team attended as one of the main sponsors. We had a large booth centrally located within the exhibition space. The Azbit trade and investment financial ecosystem announced a Pre-ICO round, to run from July 1 to 31, 2018. ICO The Azbit…

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Tezos Foundation Introduces KYC/AML Policy amid Community Backlash

Category: Altcoins, Bitcoin, Blockchain, Business, News, Regulation

Tezos Foundation Introduces KYC/AML Policy amid Community Backlash

Tezos Foundation announced the introduction of Know Your Customer/Anti-Money Laundering (KYC/AML) checks for its contributors, drawing a backlash from its followers on social media. The new policy “requires contributors to its fundraiser to complete this KYC/AML process to access their recommended allocations in its proposed genesis block.” Added identity verification will follow the account registration, and it will function as…

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Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

Category: Altcoins, Bitcoin, Blockchain, News, Regulation

Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

Canadian authorities have amended the nation’s anti-money laundering (AML) and anti-terrorism funding laws to foster orderliness in the finance and cryptocurrency industries by preventing deceitful individuals from exploiting regulatory loopholes in cryptocurrency exchanges and firms. Canada’s Fraud Crackdown As stated in the draft published by Canada Gazette, the Financial Action Task Force (FATF) pointed out some inadequacies in the Anti-Money…

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Renewed EU KYC Enforcement May Reinforce Bitcoin Legitimacy

Category: Altcoins, Bitcoin, Finance, News, Regulation

Renewed EU KYC Enforcement May Reinforce Bitcoin Legitimacy

The general theme in the cryptocurrency market in 2018 has been government regulations. In many regions of the world, governments appear to be taking a more serious approach to monitoring the activities of the crypto ecosystem. KYC and AML Procedures The EU has been at the forefront of creating a robust regulatory framework for the burgeoning crypto market with a…

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Localbitcoins Introduces Strict KYC Mandates Amongst Host of Guidelines to Comply with EU Regulations

Category: Bitcoin, Business, Finance, News

Localbitcoins Introduces Strict KYC Mandates Amongst Host of Guidelines to Comply with EU Regulations

The Wild West Days of cryptocurrencies may soon be a feature of the past, as crypto-trading and exchange platforms are increasingly introducing identity verification features for their businesses, presumably in a big to escape the clutches of legal authorities.   After a Reddit post in April 2018, which notified high-volume cryptocurrency traders about popular trading platform Localbitcoins asking its users…

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