Archive
KYC (Know your customer) is a banking and exchange regulation term for financial institutions and bookmakers, as well as other companies that work with private money, meaning that they must identify and establish the identity of the counterparty before conducting a financial transaction
The IOTA Foundation has publicly announced its strong support for the recent revisions proposed by the Financial Action Task Force (FATF) concerning its “Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) standards.” This updated framework aims to strike a crucial balance between robust risk management and the imperative of financial inclusion, a principle […]
Pi Network, a blockchain-based digital currency project, is currently facing a major crisis. Thousands of users are struggling to migrate their tokens to the Mainnet before the crucial deadline of March 14. The project’s Know Your Customer (KYC) verification process has become a bottleneck, leaving many unable to access their tokens. The frustration within the […]
Shortly after the publication of the controversial Worldcoin (WLD) project, Vitalik Buterin expressed ambivalence about the technology. The Ethereum inventor is convinced of the need for digital identities. Without them, the Internet would become the property of a few big companies. However, there should not be complete surveillance. Why Vitalik Buterin’s stance on Worldcoin (WLD) is ambiguous A […]
Vienna-based cryptocurrency exchange Bitpanda and exchange Coinbase have signed a new partnership agreement. This emerges from a joint statement from today (Thursday, May 25). Under the terms of the agreement, Coinbase will provide liquidity to Bitpanda, while the Austrian crypto exchange will use Coinbase Prime’s custody services. Bitpanda announces important partnership Exchange Coinbase, which has problems with regulation in […]
The G7 are calling for crypto regulation and will soon work together to draft comprehensive legislation. Interventions are necessary in order to create more consumer protection through better transparency, it is said. Secretly, the states may fear an increasing loss of importance of fiat money, which could manifest itself through the current banking crisis. The Basel-based Financial Stability […]
After a year-long closed testing phase, Polygon has officially launched Polygon ID, a new system aimed at enabling on-chain user identification. This innovative system utilizes zero-knowledge proofs to offer a more private and secure method for verifying user identities compared to existing practices. Polygon ID: A New Era for On-Chain Identity The introduction of Polygon […]
Almost a month and a half after Dominica made cryptocurrencies legal tender, the small island nation is now releasing its own DMC token . In addition, a separate blockchain ID is used. Dominica releases first state token DMC In October, several tokens on the Tron blockchain on Dominica will receive official national currency status . In addition, state representatives announced that they would expand their […]
Crypto exchange Kraken violated sanctions imposed on Iran by the US Treasury Department. As a result, US authorities are now demanding a fine of $362,000. Crypto exchange violates US sanctions on Iran The US Treasury Department has fined San Francisco, California-based crypto exchange Kraken $326,158. This emerges from a document from the US authority . The reason for the […]
The insolvent crypto exchange FTX reports on unauthorized access. The crypto exchange hack is said to be responsible for the loss of $600 million worth of cryptocurrencies. Customers should refrain from further use of the services. FTX reports unauthorized access After the former second largest crypto exchange had already slipped into insolvency over the past few days , it […]
With FTX, the next big crypto exchange wants to enter the stablecoin business. Some competitors already provide such an offer. According to founder and managing director Sam Bankman-Fried, they are currently only in the process of finding a suitable partner. Stablecoin only a matter of time Forefather Tether (USDT) and main competitor USD Coin (USDC) are the two largest […]