Why Know-Your-Customer Rules Won't Work With Bitcoin
Know Your Customer rules exemplify why moulding bitcoin into the current regulatory framework won't work, argues Ariel Deschapell. Regulation is a persistently hot topic in the cryptocurrency world, with a growing number in favour of government getting involved to further legitimize bitcoin. This includes Circle CEO Jeremy Allaire who recently remarked: "Bitcoin needs greater levels of governance around it. I do not believe this industry will grow without collaboration from governments around the world." Allaire stressed that a middle ground must be found between privacy and the needs of....
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The Japanese government should introduce rules that target criminals using crypto from crypto exchanges to launder money. Reportedly, these remittance rules are supposed to be introduced by next springtime. The Act on the Prevention of the Transfer of Criminal Proceeds is supposed to be revised so that it is mandatory to share customer information between […]
Government authorities around the globe have been restructuring regulation rules after seeing excessive market volatility following the Terra collapse. Similarly, while updating money laundering rules, the United Kingdom’s HM Treasury decided to reverse its plans to impose Know-Your-Customer (KYC) restrictions on the non-custodial crypto wallets, also known as private wallets. KYC protocols are used to […]
Proof of Stake (PoS) coins are generally considered safer than PoW coins, which are subject to 51% attacks. However, PressTab, the primary developer over at Hyperstake(HYP), has discovered a possible vulnerability that affects most PoS coins. Can you tell me a little bit about how PoS coins work? Contrary to popular belief, Proof of Stake is not all that different from Proof of Work. When you are mining a PoW coin, your goal is typically to create a hash that has a value below a certain threshold. Your miner continuously hashes inputs until it produces a hash under the target threshold,....
The U.S. Treasury’s decision to impose know-your-customer rules to private cryptocurrency wallets is flawed in more ways than one.
Binance Australia's CEO says it is imperative that customer support is ready for a large influx of customer inquiries at any moment. Crypto market turbulence can be an immensely stressful time for customer support staff at crypto exchanges, with companies vastly bolstering headcounts just to meet demand during surges. Speaking to Cointelegraph, Alex Harper, co-founder and CEO of Australian crypto exchange SwyftX said that “no matter what your role title is [...] no one was above customer support at Swyft."He said that he, along with staff members from human resources and the CFO have had....