Finland’s Regulatory Watchdog Plans to Supervise Localbitcoins Operations

post-img

Read More

On Monday, the Helsinki-based peer-to-peer crypto exchange Localbitcoins announced it is adding several different identification processes in order to improve AML and KYC requirements. The move to bolster the new customer verification procedure follows Finland’s Financial Supervisory Authority (FSA) mandating supervision over exchange operations. Also read: Mineable Cryptocurrencies Are Far More Valuable Than Non-Mineable Coins…

Crypto Exchange Circle Partners With Financial Surveillance Provider Nice Actimize

post-img

Read More

On Feb. 27, Boston-based cryptocurrency finance firm Circle announced a partnership with Nice Actimize financial crime detection and prevention technologies unit. Circle follows other large cryptocurrency exchanges that have opted to add a compliance and surveillance solution. Also read: Bitcoin Whales Have Accumulated Thousands of Coins in the Last 2 Months Goldman Sachs-Backed Crypto Exchange…

Following the Crypto-Anarchist Dream: 3 Reasons to Reject KYC and AML

post-img

Read More

Last year, crypto KYC and AML requirements came bursting onto the scene with thunderous applause and approbation. Many traders felt like the ICO sector was rife with scammers and con artists. In this sense, they believed there would be redemption through government. The scammers and hucksters would go to prison for defrauding investors and all…

Korean Court Rules in Favor of Cryptocurrency Exchange Against Bank

post-img

Read More

A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.…

Wrapped Bitcoin Is Coming to Ethereum

post-img

Read More

BTC is poised to make its Ethereum debut. An initiative involving several decentralized exchanges (DEXs) as well as crypto-custodians Bitgo will introduce ”BTC-backed” WBTC, with the W standing for “wrapped.” When WBTC launches in January 2019, it will enable ethereum-based ”bitcoin” to be traded on DEXs, boosting liquidity and opening the Ethereum ecosystem to a…

Shapeshift CEO Responds to Wall Street Journal Laundering Claims

post-img

Read More

Reporters at the Wall Street Journal (WSJ) tied innovative ecosystem cryptocurrency exchange Shapeshift to money laundering. “How Dirty Money Disappears Into the Black Hole of Cryptocurrency,” was its published product from months of investigative journalism. The company’s CEO, Erik Voorhees, claims cooperation with the WSJ was obtained “under false pretenses.” He also charges the WSJ…

Prolific Bitcoin Dealer ‘Blew a Giant Hole’ Through US Legal Framework

Prolific Bitcoin Dealer ‘Blew a Giant Hole’ Through US Legal Framework

Read More

A Mexico-based “prolific bitcoin dealer” has been indicted and held without bond in the US on a number of international money laundering charges. He used Bitfinex for his exchange needs after Coinbase closed his account. His “activities ‘blew a giant hole’ through the legal framework of U.S. anti-money laundering laws,” the Department of Justice wrote.…

Funds Frozen, Account Closed: UK Banks Target Cryptocurrency Owners

Funds Frozen, Account Closed: UK Banks Target Cryptocurrency Owners

Read More

In a chilling but sadly all-too-familiar sequence of events, UK banks have been targeting cryptocurrency owners. Individuals who have cashed out large amounts of cryptocurrency – legitimately – have had their assets frozen and accounts locked without warning, fueled by fears of money laundering and a general distrust of bitcoin. One victim even claims to…

Telegram Launches Passport Service for ICO Verification

Telegram Launches Passport Service for ICO Verification

Read More

Messaging service Telegram launched a new crypto-oriented feature on Thursday. Telegram Passport is a “unified authorization method for services that require personal identification”. KYC for ICOs in other words, which the Russian chat platform names as one of its intended use cases for Passport. Documents will be secured by end-to-end encryption, and Telegram has promised…