KYC

Distributed ledger technology gives payments and compliance teams powerful new tools in the fight against financial crime. Doing business on the blockchain requires clear vision and understanding and, in the digital era, payment professionals have new tools at their disposal, which make compliance...

The biggest cryptocurrency exchange in the world, Binance (CRYPTO: BNB), has come under heavy regulatory and public attention for a number of reasons, including claims that it continued to do business with clients in Iran despite U.S. sanctions. What Happened: The company's efforts to increase...

Crypto exchange Bybit will require know-your-customer checks on all its services starting next month. "Starting from 8 May, 2023, Identity Verification of at least Lv.1 will be mandatory for all Bybit products and services," the company said in a Monday announcement. "Existing users...

ConsenSys has announced that MetaMask has expanded its partnership with MoonPay, a Web3 payment company, to allow Nigerian users to purchase cryptocurrencies directly from their MetaMask wallets using local bank transfers. Nigerians can select their region as Nigeria when purchasing...

By Alex Zeltcer, Co-Founder & CEO of nSure.ai Anti-money laundering (AML) measures, such as Know Your Customer (KYC), that crypto operators are also required to follow have been a boon for fraudsters who know where the loopholes are in this legislation. The fact is, however, that over 75% of...

The world’s largest cryptocurrency exchange has reportedly lost out on a significant chunk of potential revenue due to KYC compliance. What Happened: In a recent interview with CoinDesk, Binance compliance team Tigran Gambaryan and Matthew Price, former investigators...

Binance (CRYPTO: BNB) announced it will be taking firm measures to optimize the company’s security and protect users. What Happened: As per Binance’s recent announcement, users must undertake a three-step verification process to be considered verified Binance customers. The first...