Cato Networks has raised concerns about the ProKYC deepfake tool, which allows criminals to bypass KYC checks by creating fake identities and realistic videos for cryptocurrency exchanges. This advanced fraud technique has led to significant financial losses, highlighting the need for stronger security measures in financial institutions.
JoyAs regulators step up their scrutiny of DeFi, participants will need to improve compliance with AML and KYC and simplify the process for customers.
JinseFinanceLUNC community approves Proposal 12033 for mandatory KYC, enhancing Terra Luna Classic's security and fostering confidence.
EdmundBinance is allowing users to make payments with Russian bank cards for the first time since March.
BeincryptoThese acts were reportedly seen taking place in Binance offcial Chinese language chat rooms.
BitcoinistFTX previously purchased an Australian company to bypass the financial services license process.
BeincryptoWhile most crypto exchanges have begun implementing KYC mandates, investors still have the choice to opt for crypto exchanges that promote greater anonymity by not imposing KYC.
Cointelegraph“If a rich person is worried that his account might be frozen because of sanctions, he can simply hold his wealth in Bitcoin,” Mati Greenspan said.
CointelegraphJake Chervinsky of the Blockchain Association believes that politicians should not worry that Russia may use cryptocurrencies to circumvent economic sanctions, as this is not feasible on the required scale.
CointelegraphDecentralized exchanges must figure out how to improve their KYC compliance before the wave of regulation arrives.
Cointelegraph