The U.S. Securities and Exchange Commission’s recent approval of 11 spot bitcoin exchange-traded funds (ETFs) holds the potential to drive more people to the crypto market.  “The decision ‘marks a significant step towards the institutionalization of cryptocurrency, expanding bitcoin’s accessibility to a wider audience in a more regulated and simpler manner,’” according to a Jan. 10 Forbes report citing emailed comments from Yiannis Giokas, senior director at Moody’s Analytics.  Digital tokens could get a further boost with the expected April 2024 bitcoin halving. A halving reduces th ..read more

Organizations that operate across borders face a broad range of digital challenges, from complying with shifting regulations to meeting customer onboarding expectations for speed and convenience. Consensys, a leading blockchain and web3 software company, overcame many of those challenges through a partnership with Trulioo. The company integrated Trulioo Business Verification, Person Match and Watchlist Screening capabilities through Workflow Studio, the no-code workflow builder. Before the partnership with Trulioo, the Consensys verification process could take up to an hour per customer. With ..read more

Cryptocurrency companies are playing catch-up to other financial services providers in complying with Anti-Money Laundering (AML), Know Your Customer (KYC) and other regulations. While banks and other financial entities have had years to build their compliance programs, cryptocurrency regulations are much more recent, leaving exchanges to often build compliance procedures on the fly. With global regulatory requirements and innovative opportunities creating a constantly shifting environment, how can cryptocurrency companies keep up? How can they create strategies and processes that can adap ..read more

In spite of the recent price crashes, cryptocurrencies continue to gather momentum with investors from all walks of life. Initially, crypto enthusiasts were those on the cutting edge of the tech world, but today the demographic is broadening by the day. No surprise then that, in parallel to this growth, we’re seeing an increase in regulation. Regulations are evolving rapidly and, as they do, identity verification and Proof of Address (PoA) are becoming increasingly crucial for enabling exchanges to safely onboard customers in a compliant and seamless way. Even with 20 years of continuous ..read more

The UK and EU are often leaders when it comes to regulatory oversight. For example, the EU’s 6AMLD and GDPR are global leading initiatives, and the UK’s Financial Conduct Authority (FCA) coined the term RegTech. With significant cryptocurrency European regulations in development, the world will be closely watching to see what crypto requirements will be in the UK and the EU. Interestingly, there seems to be the start of divergence between regulatory approaches. While the EU is in final discussions on final crypto legislation and the UK is starting new initiatives, the UK appears to be taki ..read more

Can an effective identity verification process become a competitive advantage for crypto exchanges while safeguarding their customers? Interview of Garient Evans from Trulioo by The Paypers. Garient, how would you portray the current crypto industry? As crypto becomes more mainstream, users represent a wider range of views. The traditional crypto enthusiast was someone on the cutting edge of the tech world, but now we’re seeing a variety of investors who are drawn to it as another asset class. There is a lot of excitement in the industry and great potential for future use cases. Specif ..read more