More than Half of Cryptocurrency Exchanges Have no Full KYC Compliance

[Goodcat49]

Recent research examining 25 of the world’s crypto exchanges has shown that 68% of crypto exchanges are failing to comply with “Know Your Customer” (KYC) policies. Non-compliant companies have a lot of work to do as new anti-money laundering regulations will come into force next year.

According to the results of a recent study performed by the analytics house P.A.I.D Strategies, 32% of digital currency exchanges are out of the appropriate KYC verification, with 25 exchanges being checked. That means people can trade on such fintech platforms with no need to provide any identification or to go through a careful KYC examination. Basically, they can trade with revealing only their telephone number and email address, which are easy to get without showing an ID.

Nevertheless, the situation on the crypto market will change soon due to new policy accepted by the European Parliament’s Committee on Economic and Monetary Affairs in December last year. The authority agreed to set new rules requiring crypto exchanges and digital wallets providers to ask their clients for identification. The financial technology regulation will come into effect starting June 2019.

Thus, if crypto trading platforms want to have the same level of trust as traditional fiat currency, they need to obey the same set of standards. Unfortunately, more than half of virtual coins exchanges are currently failing to comply with them.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptocurrency-exchanges-have-no-kyc-compliance/

[Goodcat49]

Why Brazil is Crazy for CriptoHub

With great deals, a top team and cutting edge tech, Brazil’s new crypto exchange is just what they need.

Cryptocurrencies have been around for a while now, long enough to make a mark in the international trading scenario; crypto exchanges are even being compared with their traditional counterparts, the regular financial exchanges. This is particularly so in the case of Brazil, the South American economy that has developed a unique liking for cryptocurrencies – so much so that the liking has morphed into a not-so-subtle obsession for the virtual currencies.

The demand for cryptocurrencies in Brazil is evident in many ways, with one such being that a major Sao Paulo institution has claimed to be the first in the country to launch a Masters programme in cryptocurrency, bringing cryptocurrency trading in Brazil to the mainstream of education and effectively formalising the industry. And there is good reason why this inherent affinity for crypto trading has also translated into craze for the brand new crypto exchange on the Brazilian horizon, CriptoHub.

CriptoHub, the Crypto Exchange Behemoth
The rising demand for cryptocurrency trading has not gone unnoticed by legislators, who are now taking positive steps to regulate the growing industry. In fact, the government has decided to embrace the underlying technology that runs cryptocurrencies, the Ethereum Blockchain, to solve Brazil’s electoral issues, making it easier for governments to record and store verifiable signatures for petitions.

In the background of insatiable demand for cryptocurrency trading in Brazil and the unquenchable thirst for reliable crypto exchanges, comes the CriptoHub, the exchange that is determined to make a difference to the status quo. CriptoHub has found novel ways of reaching out to prospective users of cryptocurrencies, banking on cutting edge technology and on its team of experts.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/brazil-is-crazy-for-criptohub/

[felixesteban]

Most large exchanges do not want KYC if you are trading lower than 2 BTC. In the future, I think the KYC will be requested on every platform, which is necessary . It will be the right policy to fight crime.