
Deloitte turns to blockchain for improved KYC processes
The accounting firm plans to launch a "credential wallet" designed to operate as a browser extension that will not require extensive blockchain knowledge to use.
The accounting firm plans to launch a "credential wallet" designed to operate as a browser extension that will not require extensive blockchain knowledge to use.
The exchanges mentioned in the bust include 24xbtc.com, 100btc.pro, pridechange.com, 101crypta.com, uxbtc.com, trust-exchange.org, bitcoin24.exchange, paybtc.pro, and owl.gold.
ByBit's Know Your Customer requirement may take between 15 minutes to 48 hours to be processed, noting that users can make up to five attempts per day in the case of a rejection.
Firms offering digital currency services in India are now covered by the PMLA of 2002, under which they are mandated to make proper disclosures with the FIU-IND and comply with KYC rules.
eKYC platform Consonance will rely on blockchain to provide banks and financial institutions with a standardized framework to carry out Know Your Customer checks.
Former DoJ prosecutor John Ghose said Binance "did not have a reputation of being a responsible exchange" as authorities look into hedge funds tied to the controversial exchange.
The New York DFS announced that it had reached a $100m settlement with Coinbase after a probe identified failures in its AML program, including its KYC/customer due diligence (CDD).
CertiK unearthed a fast-rising underground market with over 500,000 members where Know Your Customer verification is sold for as low as $8, concentrated in Southeast Asia.
Beginning January 2023, wallet providers and digital asset exchanges in Switzerland will be mandated to follow the new KYC regulations, including a CHF1,000 threshold on digital asset transactions.
As a subset of Anti Money Laundering (AML) laws and regulations, Know Your Customer places a lot of burden on companies to secure client data.
Filed at the Southern District of Florida, the complaint accuses Digitex of operating a digital asset derivatives exchange from an office in Florida from May 2020 through to May 2022.
The U.S. regulator settled with bZx founders for $250,000 for illegal margined and leveraged commodity transactions, while also suing the Ooki DAO and its token holders.