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Regtech And Suptech: Laws Are New Gold
Forecasts   |   17.05.19  |  

... of various data, compare numerous sources, track patterns, do not avoid using social networks and mass media. The examples of regtech One of the most popular solutions in the field of regulatory technologies is the verification and organization of KYC procedures — know your customer. Identifying and verifying customers systematically in order to meet the requirements of the law is not an easy task for both companies and customers. A lot of regtech companies offer their solutions for it. The solution ...

Philippine Startup Partners With Western Union
Innovations   |   09.04.19  |  

... its cross-border platform, allowing users in the Philippines to receive and hold international money transfers directly into wallets. New clients must register at, provide a valid ID, and proceed with the “know your customer” (KYC) rule. At this stage, will limit the capacity of the wallet to 100,000 Philippine pesos per month (about $1,907). The press release also notes that more than five mln Filipinos already use the wallet, while Western Union has more ...

Come Again And Play the Bitcoin Game! TOON #20
Investments   |   07.12.18  |  

... so getting data about their financial activities quite often becomes a massive chore. This gives a proper reason to question their honesty, despite the fact that these days pretty much any big exchange asks its clients to perform the ritual dances of KYC and AML. Furthermore - more and more people are thinking that exchanges are messing up the market for their own mysterious gains, while counting their sweet-sweet crypto fees because of the constant transactions back and forth. This is a sole reason ...

Global Financial System Launders $800 bln Per Year, But FATF Considers Crypto To Be A Threat
Regulation   |   20.11.18  |  

AML in banking sphere is severely compromised, but FATF is looking in the direction of imposing AML/KYC obligations on cryptocurrencies. What’s wrong with the priorities? In light of the burning reputation of traditional financial institutions in terms of money laundering, the long-awaited will of Financial Action Task Force (FATF) to establish ...

Exchange Transparency SWOT-Analysis: Consider It Before You Deposit
Trading   |   09.10.18  |  

... happened even in the spots where the administration led security checks .” The total transparency of information on crypto exchanges is also opposed mostly by the users which are not looking forward to sharing their personal data despite the demands of KYC. According to these enthusiasts, personal data is also vulnerable and may be obtained by the third-party persons with no good intentions as well. Opportunities The industry is barely a fraction of what it could become in the coming years and decades....

Why KYC Doesn’t Protect From Fraud, And How Your Wallets Сan Be Deanonymized
Blockchain   |   13.09.18  |  

... activities. Blockchain investigators focus on blockchain analysis and network analysis to try to piece together the relationships between different wallets, exchanges, and the dark web. Blockchain analysis is now a multi-billion dollar industry. Is AML/KYC just a decoy for the crypto industry? Another part of the effort to control cryptocurrencies is for regulators to require that cryptocurrency startups are fully compliant with regulatory demands, and full enforcement of AML/KYC (Anti-Money Laundering/Know ...

Take Off the Blinders: Crypto Exchange Reports VS Reality
Forecasts   |   06.09.18  |  

... statements about transparency policy: “We put our community first and believe in providing a trustworthy and a secure platform by advocating transparency in all our processes and services. We have initiatives in place such as a multi-level structure KYC system with advanced ID verification services that swiftly verifies, identities and mitigate risks all together. We build trust in the industry and with our community, and I believe that more than ever, working with regulations is the way to encourage ...

Survey: 68% digital currency services do not comply with KYC
Usa   |   06.06.18  |  

... Strategies has conducted a research of the US and EU digital currency exchange platforms, the results are quite negative: only the minority of respondents (32%) is using full identification of clients similarly to how banks make customers undergo the KYC (‘Know Your Customer’) procedure. This tells that the market is still in its infancy despite some big exchanges already using these principles. Regulators of several developed countries have stated that digital currency exchanges should follow ...

Poloniex to identify users in accordance with KYC
Usa   |   29.12.17  |  

The Know Your Customer principle Poloniex decided to follow is one of the main standards of the modern business, but cryptocurrency enthusiasts might become disappointed here — it leaves less room for anonymity Poloniex, one of the most popular cryptocurrency exchanges, decides to work in compliance with the Know Your Customer principle. It is one of the oldest digital currency marketplaces. The verification deadline will be published in the first quarter of the year 2018, tells the official announcement...

Blockchain optimism thrives even more
Usa   |   04.10.17  |  

The technology on which cryptocurrency is based upon gets more recognition than cryptocurrency itself Officials around the world continue to express optimism about the blockchain, with the United States ahead of others. Recently, the Vice President of the Federal Reserve Bank of Boston, Jim Cunha, stated that blockchain could become a new SWIFT. SWIFT is the international payment system that ensures connection of shop terminals and ATMs to banks, banks with banks and other cases when the transfer...