G20, the group of 19 big nations and the European Union, imposing stricter know-your-customer (KYC) procedures on cryptocurrency exchanges and related businesses. This made many crypto industry expert to term the move as draconian and this undesirable from a privacy perspective. Also the inter-governmental Financial Action Task Force on Money Laundering (FATF) met with representatives from the cryptocurrency industry on May 6th and 7th this year in Vienna.
Ubisecure, a customer identity management company has welcomed a developer of the distributed Public Key Infrastructure (PKId) protocol and PKI-enabled apps, Remme as their strategic partner. The CEO of Remme, Alex Momot commented, “Our two companies will release further details on the outcome of the PoC and further collaborations based around identity management with DLT in the near future.”
A partnership was made between OAX cryptocurrency exchange ecosystem and KYC-Chain to encourage the strong governance standard in digital asset trading. The founder of KYC-Chain, Edmund Lowell said, “We are very proud to be partnering with OAX Foundation. KYC and AML have become essential parts of running a business. From our experience by adopting the necessary compliance tools.”
A provider of data to combat ransomware, hacking, malware and other online threat, Confirm have revealed that they have fully redesigned its AML/KYC platform. The redesigned platform by Confirm have features numbers of new design upgrades, integrated products and of course, a better AML Risk reporting. Network members are now able to access the Confirm products and panels.