A Third of Crypto Exchanges Have Little or No KYC, Says CipherTrace

Cryptocurrency

The FATF guidance, which is more or less obligatory for its 39 member nations and jurisdictions to adopt in regulation, stipulates that exchanges, or virtual asset providers (VASPS), must obtain, store and be able to pass on data on their users when transactions worth $1,000 or over are made. This provides a digital paper trail that can be followed in order to prevent financial crimes such as money laundering or terrorism financing.

Products You May Like

Articles You May Like

Trump, Biden economic advisers disagree on nation’s outlook
New York Fed survey shows slight improvement in consumers’ outlook
New York Sees Its Last Rental Conversions After Passage Of Tenant Protection Law
Opendoor’s Cofounder Talks Covid, Growth, And The Quest For Profits As The Company Goes Public
Covid-19 mortgage bailouts decline slightly, but a new foreclosure crisis could be brewing