Topic: [2018-06-11]More than Half of Cryptocurrency Exchanges Have no Full KYC Complian (Read 136 times)
June 13, 2018, 02:13:03 AM
As soon as they grow in terms of number of users and in income they won't be unnoticed anymore as the attention of the government will now be on them, they might be enjoying right now but sooner or later they need to comply on what their respective government orders them to do. Also as of right now where we lack regulations this will be normal as not everyone will know what to do and this companies won't certainly ask KYC if it is not one of the required process given by their government.
June 13, 2018, 12:48:59 AM
Setting a withdrawal limit to unverified users is already a good step to prevent money laundering. Just like in Binance, 2 btc is the limit per day and if you wanted more than that then you need to pass the KYC process. It shouldn't need to be forced and I will not use other exchanges that wants to me to be verified first before trading.
June 12, 2018, 03:41:13 PM
Quote
the situation on the crypto market will change soon due to new policy accepted by the European Parliament’s Committee on Economic and Monetary Affairs in December last year.
-snip-
The financial technology regulation will come into effect starting June 2019.
-snip-
The financial technology regulation will come into effect starting June 2019.
The exchanges could just force the European citizens (+ Japanese) where the KYC is imposed afaik to reveal their identities, without forcing it for others from countries that didn't have any regulations yet, no? Or should the exchanges impose these rules to everyone in this planet or else it will be prohibited?
June 12, 2018, 03:18:07 PM
Quote
the situation on the crypto market will change soon due to new policy accepted by the European Parliament’s Committee on Economic and Monetary Affairs in December last year.
-snip-
The financial technology regulation will come into effect starting June 2019.
-snip-
The financial technology regulation will come into effect starting June 2019.
The exchanges could just force the European citizens (+ Japanese) where the KYC is imposed afaik to reveal their identities, without forcing it for others from countries that didn't have any regulations yet, no? Or should the exchanges impose these rules to everyone in this planet or else it will be prohibited?
An image taken from the cited study
June 11, 2018, 04:48:17 PM
More than Half of Cryptocurrency Exchanges Have no Full KYC Compliance
Recent research examining 25 of the world’s crypto exchanges has shown that 68% of crypto exchanges are failing to comply with “Know Your Customer” (KYC) policies. Non-compliant companies have a lot of work to do as new anti-money laundering regulations will come into force next year.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptocurrency-exchanges-have-no-kyc-compliance/
Recent research examining 25 of the world’s crypto exchanges has shown that 68% of crypto exchanges are failing to comply with “Know Your Customer” (KYC) policies. Non-compliant companies have a lot of work to do as new anti-money laundering regulations will come into force next year.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptocurrency-exchanges-have-no-kyc-compliance/
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