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Using QTUM, network users pay nominal fees to execute transactions or smart contract operations, creating an open and permissionless financial system.With the continuously evolving regulatory atmosphere of blockchain and cryptocurrency, know your customer (KYC) and anti-money laundering (AML) measures are becoming more unavoidable. With this in mind, Qtum has announced
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Dutch Bitcoin exchange platform, Bitonic, has filed a preliminary injunction at a Rotterdam court seeking the suspension of a wallet verification rule enacted by the central bank.Back in November 2019, De Nederlandsche Bank, or DNB, mandated crypto exchanges to ensure their users comply with stringent Know Your Customer protocols. These
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Fetch.ai, a project building a network of autonomous agents for blockchains, has announced a partnership with Yoti, a digital identity provider. Blockchains, and DeFi smart contracts in particular, often require manual interactions to trigger specific events. These could be contract calls, particular exchange transactions, publishing oracle data and many more.
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Digital asset exchange Bitstamp has reportedly banned Netherlands-based users from withdrawing crypto to external wallets without first verifying they own the receiving address.According to a letter authored by Bitstamp that was shared on Twitter by user “Bitcoin Marcus,” Bitstamp’s users in Holland must now submit third-party addresses alongside photographic evidence
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U.S. lawmakers are asking the nation’s financial guardians to clarify custodianship questions. France is looking to eliminate anonymity in the crypto sector. And an exposé into how FinCEN became a honeypot for personal information. Top shelfBanking playPaxos is making moves to become a federally regulated bank in the U.S., according to
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The French Ministry of Finance unveiled sweeping know-your-customer (KYC) requirements on all cryptocurrency companies operating in and servicing the country on Wednesday, a move that could ultimately strip the French crypto space of any semblance of anonymity.All virtual asset service providers must immediately begin checking their customers’ identities, verifying “beneficial
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The investment deal will also see Blockpass' anti-money laundering product integrated into BnkToTheFuture's ecosystem. Source
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With the South Korean government preparing to implement know-your-customer (KYC) and anti-money laundering (AML) compliance processes, there is confusion among legal experts as to whether the requirements contradict other laws.According to Digital Today, the new requirements would contravene the existing Personal Information Protection Act, which stipulates that local companies cannot
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Another week, another round of Crypto Tidbits. It’s been another volatile week for the Bitcoin market. In the past seven
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The Monetary Board of the Central Bank of Sri Lanka is close to starting development of a blockchain platform expected to speed up the processing of bank users’ ID information. DisclosureThe leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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