India in need of simplifying user verification process to bolster digital payments
While India has witnessed a surge in digital payments, the country’s KYC procedure continues to be cumbersome, especially for the elderly, poor, and migrants.
Latest Know Your Customer News
‘Crypto’ anti-money laundering efforts need to incorporate tradfi tools
Chainalysis details the extent to which money launderers use blockchain “to launder funds from a broader range of illicit activities beyond the conventional understanding of crypto crime."
Italy to increase oversight of digital asset market
The policy, moving Italy further towards the standards laid out by MiCA, also designates Italy's central bank and market watchdog, Consob, as the authorities overseeing digital asset activities.
RockWallet absorbs Wyre’s user base
Self-managed digital currency wallet RockWallet has stepped in to acquire Wyre's user base and will offer users a way to reactivate their accounts without going through a new KYC process.
Pakistan adopts blockchain KYC platform for financial institutions
Pakistan's central bank has approved blockchain KYC for banks, boosting security and efficiency with privacy measures, uniformity, cost savings, and smoother customer onboarding.
Pension funds on AI? New report suggests potential increased returns for investors
Mercer CFA Institute report explores artificial intelligence's role in pension fund efficiency, risk management, and workforce impact.
Japan: MUFG, Fujitsu, NTT Data form consortium decentralized identity project
Japanese firms form a consortium to develop decentralized identities with applications in finance, digital securities, the metaverse, aligning with the global digital ID trend.
Digital currency exchanges in South Korea must have $2.3M in reserves starting September
New South Korean exchange rules: $2.3M reserves, KYC focus, and compliance rush before September deadline.
Worldvest launches new investment initiative with a mission to accelerate cutting-edge solutions enabling the tokenization and trading of real-world assets on the Bitcoin Satoshi’s Vision “BSV” blockchain
WorldVest initiative marks a significant step towards transforming the global infrastructure around tokenizing real-world assets and financial instruments on the BSV Blockchain.
Deloitte, Chainalysis target bad actors with digital assets data analytics solutions
Onchain analytics firm Chainalysis and professional services firm Deloitte join forces to deploy KYC and AML tools, assisting law enforcement in taking down digital currency bad actors.
KuCoin aligns with global regulatory standards with mandatory KYC program
KuCoin disclosed that the new Know Your Customer policy would begin on July 15 for new and existing customers, stating that new customers must complete all the steps in the KYC before accessing any of its services.
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.