Digital asset firms often blame the "shifting" regulatory landscape for their failures, but in truth, laws haven't changed, and regulators are finally catching on to how technology works.
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.
Countries covered by the Financial Action Task Force are required to conduct anti-money laundering reviews annually instead of every 10 years or risk being added to the 'grey list,' or worse, be blacklisted.
BitMEX's active user base is now 100% KYC verified. After the exchange was sued by the CFTC and DOJ it has taken steps to become compliant.
Bitonic, a Dutch-based digital currency exchange, is unhappy with the new KYC process that the Dutch Central Bank is demanding they implement.
BitMEX's executives are confident in the future of the exchange and its ability to comply with existing laws around digital currency exchanges.
Bithumb digital currencies exchange has integrated the Reactor investigation tool from Chainalysis to scrutinize transactions more and comply with new laws
Australia’s financial watchdog has seen a hugely positive response since new crypto regulations began in April 2018.
The FCA has assumed more oversight responsibility in the crypto industry, including becoming the KYC and AML enforcer. Companies will need to be licensed afresh.
France has implemented new rules which will see crypto firms report to the regulator on their security practices, AML guidelines, data protection and more.
While several billion dollars’ worth of cryptocurrency has been lost to thievery this year, that's still far less than the amount scammed in fiat.