Thursday, November 21, 2019
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BitPay Now Requires Your Photo ID for Purchases Over $3K in Bitcoin

Cryptocurrency payment processor BitPay is introducing new identity verification measures for certain high-value payments, refunds and payouts.According to an Aug. 1 announcement from the United States-based firm, the new measures notably do not apply to person-to-person payments using the BitPay and Copay apps.Photo ID, Social Security NumberBitPay is rolling

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Czech Republic to Impose Stricter Crypto Regulations than EU Requires

The Czech Republic is expected to enforce stricter oversight of cryptocurrencies than that required by the European Union’s bloc-wide Anti-Money-Laundering (AML) regulatory regime. According to a report from local newspaper Hospodářské Noviny on Aug. 8, the Czech Republic’s transposition of the European Union (EU)’s Fifth AML Directive (AMLD5) looks set

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Brazil Requires New Diplomats to Know About Blockchain and Crypto

The Brazilian diplomatic academy, the Rio Branco Institute, will now require that candidates have knowledge of cryptocurrencies and blockchain, Cointelegraph Brazil reported on July 8.The Rio Branco Institute — established in 1945 and offering two advancement courses for diplomats — has published the 2019 edict for the selection of

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Brazil Requires Crypto Exchanges to Report on User Transactions to Authorities

The Department of Federal Revenue of Brazil (RFB) has released new rules requiring that cryptocurrency exchanges inform the regulator about users' transactions in order to identify tax fraud, Cointelegraph Brazil reported on June 19.The guidelines clarify how cryptocurrency trading platforms in Brazil should adopt new rules to report about

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Central Bank’s Draft Law Requires Licenses for Crypto-Related Activities

A new banking law drafted for the Central Bank of Egypt (CBE) would make it mandatory to obtain licenses in advance of creating, advertising or operating platforms for issuing or trading cryptocurrencies. The news was reported by online newspaper The Egypt Independent on May 28.Citing an official source’s remarks

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CFTC Requires Trading Platform to Pay $990K for Illegal Bitcoin-Related Transactions

The United States Commodity Futures Trading Commission (CFTC) has announced Monday, March 11, that international securities dealer 1pool Ltd. and its CEO Patrick Brunner must pay a total of $990,000 for illicit Bitcoin (BTC) transactions with U.S. customers.The Marshall Islands-based startup, which was offering BTC-funded security-based swaps, and its

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Proposed Bill Requires Identification of Buyers Paying in Digital Currencies

A bill requiring users to identify themselves while using digital currencies has been filed on March 8, according to the official Texas legislature portal.The bill’s text contains the definitions of digital currencies, digital wallets, distributed ledgers and verified identity digital currencies (VIDC). The latter is defined as “a digital

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British Crypto Exchange CEX.IO Now Requires Identity Info From Users

United Kingdom-based cryptocurrency exchange CEX.IO now requires its users to disclose their identities, financial trading news outlet Finance Magnates reported Dec. 11.Established in 2013, CEX is a London-based cryptocurrency trading platform, initially started as a cloud mining provider. Currently, the exchange supports eight major digital currencies and four major fiat

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Walmart Requires Certain Produce Suppliers to Deploy Blockchain Technology

U.S. retail giant Walmart and its division Sam’s Club, a membership-only retail warehouse club, will require suppliers of leafy greens to implement a farm-to-store tracking system based on blockchain tech, Reuters reported September 24.The end-to-end traceability system is based on distributed ledger technology (DLT) developed by computing giant IBM. According

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