Tag Archives: Binance

In Binance’s peer-to-peer (P2P) platform, ML technology is employed to identify suspicious language in communications. By utilizing ML in P2P chat, feedback, and advertisements, potential payment scams, customer service impersonation, and malicious messaging can be detected. This technology has proven effective in preventing thousands of scams. For the know-your-customer (KYC) process, Binance utilizes a combination of computer vision (CV) and AI. These technologies aid in verifying...

Binance informed its users that it is working to find another payment service provider.  Binance, a leading cryptocurrency exchange, has lost its banking partner Paysafe in Europe. Binance partnered with Paysafe in January 2022 after losing Barclays and Santander as banking partners in 2021. Since then, the exchange has been trying to expand its presence and reach in Europe. Consequently, Paysafe’s decision will set back the exchange’s European plans. Paysafe Is Wary of Regulators Paysafe...

Ledger launched an institutional-grade trading network to meet the risk management and regulatory requirements of institutions. On June 28th, crypto custody company Ledger announced the launch of “Ledger Enterprise TRADELINK”, a custodial trading network for institutions aiming to revolutionize this segment. According to Ledger, the crypto wallet company has signed contracts with several partners to carry out its new project, which eliminates unnecessary complexities in the crypto market...

Seychelles-based crypto exchange KuCoin is pushing for mandatory KYC upgrades as its competitors face regulatory challenges across various jurisdictions. In a bid to embrace global compliance requirements, KuCoin announced an upgrade of its KYC authentication rules and systems from next month onwards. Beefing Up KYC Measures The new rules mandate all newly registered users to complete KYC starting July 15 to access KuCoin’s full suite of products and services to ensure a...

KuCoin CEO noted that the increased adoption of cryptocurrency has pushed the number of related security issues higher. Leading cryptocurrency exchange KuCoin has introduced additional checks to its KYC verification process. In a bid to comply with global anti-money laundering regulations, the firm announced the KYC system upgrade on June 28. As part of the upgrade, all new users will have to complete mandatory identity checks from July 15. Without this, such users will not have access to...

Fireblocks’ cloud support comes at a time when more and more institutional investors and corporations are joining the crypto space. Blockchain security service provider, Fireblocks, has expanded its cloud service for crypto custody and settlement. According to the announcement, the service will now include Amazon Web Services (AWS), Google Cloud Platform, Alibaba Cloud, Thales, and Securosys. Cloud Computing Meets Crypto Security Fireblocks’ platform uses a combination of security...

Binance will not delist privacy coins in Europe, opting instead to review its classification of assets in line with EU law. Binance has reviewed its decision to delist several privacy coins in Europe. The exchange will no longer delist these coins as it works to comply with regulations stipulated by European authorities. Binance will now reclassify privacy coins to satisfy regulations. In a recent comment, Binance said: “After carefully considering feedback from our community and...

Bybit’s move is in stark contrast with that of the leading crypto exchange, Binance. Earlier this month, Binance announced it would cease its operations in Cyprus. Crypto exchange Bybit has obtained a license from the Cyprus Securities and Exchange Commission (CySEC) to operate a crypto exchange and provide custody services in the island nation. Bybit announced the news on Monday, June 26, stating that it will offer a full suite of services to its Cyprus customers. This will include...

The 30-day window of opportunity opened on Sunday, June 25th, and would run till July 23rd. Voyager customers who have been unable to access their funds since the company folded up last year may finally have something to cheer about. This follows after a recent blog post hinted that customers affected by Voyager’s bankruptcy can now withdraw their funds. According to the blog post, the 30-day window of opportunity opened on Sunday, June 25th, and would run till July 23rd. During this...

The world’s largest cryptocurrency exchange – Binance – has reportedly recruited M. Kendall Day – a former prosecutor at the US Department of Justice. His main duty will be to represent the firm in the legal battle against the United States Securities and Exchange Commission (SEC). The agency waged war on Binance earlier this month, accusing it of violating several rules. According to one of the allegations, the exchange offered services with unregistered securities, such as...