New customers will have to supply a government ID and pass facial verification to meet Binance's "Intermediate" verification.
Users will have to undergo facial recognition and share identity documents make withdrawals.
New exchange users will have to use machines to scan their ID card chips before they can open a crypto account, says an industry exec.
Kim Byung-wook said he believes the crypto industry is unique and different from traditional finance.
Existing AML/KYC laws could reduce ransomware proliferation, but it would require an international effort.
After getting in hot water with U.S. regulators last year, the exchange has rolled out mandatory verification for all users.
The U.K.-registered EXMO exchange is one of the many crypto startups to go through the FCA approval process. Execs detailed the work it took to get there.
Erik Voorhees’ ShapeShift is morphing into a decentralized exchange (DEX). It's losing the KYC restrictions at the same time.
The U.S. Treasury’s decision to impose know-your-customer rules to private cryptocurrency wallets is flawed in more ways than one.
Hodl Hodl announced a no-KYC, P2P lending service. Reactions to PayPal's crypto market entrance. And a token-merging M&A deal.
Hodl Hodl is launching a peer-to-peer lending marketplace for hardcore bitcoiners
Popular cryptocurrency options exchange Deribit will require all of its users to be ID verified before the end of this year under its revamped know-your-customer (KYC) policy.
The exchange moved deadline for identity verification from February 2021 to November 2020.
The change comes with a six-month “grace period” ending in February.
The Central Bank of Sri Lanka is about to decide which firm will develop a blockchain platform that could speed the processing of bank users' ID information.