How BlockScore is Making Bitcoin Regulatory Compliance Absurdly Simple
While bitcoin is going through some growing pains right now, that shouldn't deter entrepreneurs from starting a digital currency business. As we detailed recently, many VCs are on the lookout for business partners in the burgeoning space. One notable hurdle, though, is that regulators are looking closely at what should be done about decentralized money. This means that for even the most intrepid entrepreneurs, fear and uncertainty surrounds planning for the many possible scenarios of legislation that could take shape. Palo Alto, California-based BlockScore, however, aims to take some of....
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Updated with commentary from BlockScore president Christopher Morton. Palo Alto-based identity verification service BlockScore has raised $2m in a seed funding round from a range of high-profile investors. Notable names in the round include bitcoin exchange software provider Vaurum investor Battery Ventures, bitcoin enthusiast Jeremy Liew's Lightspeed Venture Partners and Adam Draper's Boost VC, a firm that has pledged to accelerate 100 bitcoin companies through till 2017. The funding comes at a time when BlockScore is aggressively expanding beyond its roots in the bitcoin ecosystem. The....
Vancouver-based DMG has launched a new bitcoin mining pool that emphasizes regulatory compliance over low fees, offering a new industry avenue. The post New North American Mining Pool Bets On Region And Regulatory Compliance appeared first on Bitcoin Magazine.
Coinfirm estimates that RegTech can reduce compliance costs for financial services companies by as much as 50 percent. RegTech may be “the next big thing” in fintech as digital currency and blockchain startups bump up against new government regulations, resulting in an increase in the demand for legal compliance information that will help companies navigate regulatory requirements and conduct risk assessments. Banks and other financial institutions are also looking for cost-effective ways to assess the risks of using new blockchain technologies in different jurisdictions and to modify....
Global cryptocurrency exchange Binance has made regulatory compliance its top priority. The exchange is on a hiring spree to “significantly” add to its compliance and legal teams. “We are going through a pivot from a technology innovator into a financial services company, so we need to be fully compliant,” said the CEO of Binance. Binance’s Regulatory Compliance Plans Binance is focusing on regulatory compliance as the exchange pivots from a technology startup into a financial services company, CEO Changpeng Zhao (CZ) explained in an interview with Bloomberg....
Coinbase CEO Brian Armstrong argues that privacy advocates could gain the most from compliance since it will make them rich. But could non-compliance be even more lucrative for Bitcoin? Compliance Will Make Who Rich? Armstrong defines compliance as “working with regulators, law enforcement, banks, etc.” and touts the fact that as much as 20% of Coinbase....