Implementing the double-edged sword of KYC is a must for crypto exchanges
The bull market effect has made Know Your Customer regulation more important than ever for cryptocurrency exchanges. During 2017’s bull market, most crypto services lacked the proper Know Your Customer and Anti-Money Laundering measures. Even in 2020, 56% of the analyzed 800 cryptocurrency exchanges and over-the-counter trading desks followed weak KYC practices, according to a CipherTrace report. However, the current digital asset rally has turned the crypto market upside down.As a result, KYC and AML have become top priorities for cryptocurrency providers, with many industry players....
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For traders, volatility is a double-edged sword that can lead to vast riches or immense losses. Crypto traders are particularly susceptible to volatility due to the low liquidity in some projects, and the high concentration of some cryptocurrencies in the hands of individual whales. 2022 could prove to be one of the most volatile years […]
XRP’s price action throughout the past few months, and even years, has been nothing more than lackluster, with the token still trading down over 90% from its all-time highs while failing to garner any widespread adoption. The token’s close ties to FinTech company Ripple has been a double-edged sword for its performance. On the one […]
Shiba Inu (SHIB) price is once again at a crucial crossroads. Currently, it’s down a staggering 91% from its all-time high (ATH) of $0.00008845, recorded in October 2021. Over the past year, the token has been on a consistent downtrend, marking lower highs and lower lows on the monthly time frame. But all is not bleak for SHIB investors. The recent relaunch of Shibarium, a layer 2 blockchain, is a beacon of hope. This move is seen as Shiba Inu’s attempt to transition from its meme coin status to a more serious player in the crypto world, aiming to enable applications for....
A recent analysis from BaroVirtual, a CryptoQuant analyst, offers a nuanced perspective on the current state of the Bitcoin market. According to the analyst, fluctuations in the Coinbase premium—a key metric that tracks the price difference between Bitcoin on Coinbase and other exchanges—can offer significant insights. Related Reading: Bitcoin ETFs See Historic Surge – Institutions Go Bullish On BTC With $1.38 Billion Record Inflows Retail Leverage And Premiums: A Double-Edged Sword Rising or elevated Coinbase premiums typically suggest intense buying pressure, indicating strong....
Having been in development for more than two years, what promises to be the first proper decentralized Bitcoin exchange is set to officially launch next Wednesday. Bitsquare, an open source project led by the Austrian-born Manfred Karrer, allows anyone to trade Bitcoin for fiat currency as well as altcoins, without requiring a company, central intermediary or permission from anyone. Karrer: “Bitcoin’s reliance on centralized exchanges is diametrically opposed to its principles. I hope Bitsquare will solve that problem.” Karrer began working on Bitsquare back when Bitcoin trading was mostly....