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BitMEX Accelerates Mandatory ID Verification After Charges of Lax Anti-Money Laundering Controls

BitMEX, which has been charged by the U.S. government and a regulator with facilitating unregistered trading, has accelerated its mandate for all customers to verify their identities by Nov. 5, three months earlier than its original deadline of early February.Stronger identity verification requirements is an industry trend, said Ben Radclyffe,

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Mandatory KYC verification may contradict privacy laws in South Korea

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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BitShares DEX Gateway CryptoBridge Implements Mandatory KYC for Users

BitShares Decentralized Exchange (DEX) gateway CryptoBridge announced on Oct. 1 that it has implemented mandatory user Know Your Client (KYC) verification.European regulation is responsiblePer the announcement, the reason for the upcoming mandatory KYC is the 5th EU Anti-Money Laundering Directive (AMLD5). Interestingly, CryptoBridge also noted that the company wants

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