Scammers turn to KYC actors for hire to target Web3 investors: CertiK
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.
Latest KYC News
FATF task force doubles down on anti-money laundering oversight
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
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.
Has the Dutch Central Bank overstepped a boundary?
Bitonic, a Dutch-based digital currency exchange, is unhappy with the new KYC process that the Dutch Central Bank is demanding they implement.
BitMEX moves deadline for user verification
BitMEX's executives are confident in the future of the exchange and its ability to comply with existing laws around digital currency exchanges.
Bithumb enlists Chainalysis compliance tool following new laws
Bithumb digital currencies exchange has integrated the Reactor investigation tool from Chainalysis to scrutinize transactions more and comply with new laws
Australia’s crypto ecosystem has matured greatly in under two years
Australia’s financial watchdog has seen a hugely positive response since new crypto regulations began in April 2018.
FCA’s crypto oversight to include AML and KYC compliance
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 new rules open opportunities for crypto firms to be licensed
France has implemented new rules which will see crypto firms report to the regulator on their security practices, AML guidelines, data protection and more.
2019 saw scammers and fraudsters steal over $4 billion in crypto
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.
Why you must rethink FATF now
Outside of the previously lightly regulated cryptocurrency ecosystem, the guidance is essentially the application of FATF’s operative guidance called the “travel rule” for traditional financial institutions towards crypto businesses.
Crypto donations to politicians in Japan ‘not illegal,’ minister says
Sanae Takaichi has confirmed that cryptocurrency donations are legal in Japan, clarifying what had been seen by many as a grey area of crypto and campaign finance laws.