Binance sued for allegedly facilitating money laundering with ‘lax KYC’

Binance’s lax KYC requirements are creating more legal problems for the exchange. Binance’s famously light Know Your Customer requirements are being targeted by the current owners of Zaif, a Japanese cryptocurrency exchange that got hacked in 2018. Plaintiffs are claiming that its weak KYC requirements and high daily withdrawal limit facilitated the laundering of $60 […]

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Cryptocurrency News From Japan: March 29 – April 4 in Review

Nomura Research Institute launched Japan’s first blockchain bond, Zaif exchange delisted three assets, and more headlined news from Japan this past week. This week’s headlines from Japan included the country’s Financial Services Agency revealing feedback from the public on recent regulation, the Cabinet Office Ordinance announcing regulatory changes, Zaif exchange removing three crypto assets, BitBank’s […]

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Cryptocurrency News From Japan: March 1-7 in Review

Japanese government agencies held a crypto meeting, Coincheck added Qtum, and more headlined news from Japan this past week. This week’s headlines from Japan include crypto exchange Zaif reopening account registrations, government agencies meeting on crypto, the Federation of Economic Affairs submitting a national Blockchain proposal, Coincheck adding Qtum, and Rakuten Wallet opening leverage trading […]

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Privacy Vs. Security, Do Authorities Monitor Every Crypto Transaction?

Government authorities are looking for new ways to track crypto to prevent or solve financial crimes, but this can decrease privacy. Tracking cryptocurrency transactions is getting easier for law enforcement agencies. On Oct. 16, Cointelegraph reported on how authorities in the United States successfully shut down an international child pornography site. To identify the criminals, the […]

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Crypto News From Japan: Week in Review

From Cointelegraph Japan: the Bank of Japan is bullish on blockchain tech, while exchanges and crypto firms are introducing new offerings. Japan is a friendly jurisdiction for cryptocurrency trading and development, having eliminated the consumption tax on Bitcoin (BTC) trading in 2017, after which it recognized the coin as legal tender. This week in Japan, […]

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Bitpoint Hack Shows That Regulators’ Scrutiny Does Not Equal Safety

Bitpoint incident continues the streak of hacks targeting Japan-based exchanges. On July 12, 2019, Tokyo-headquartered cryptocurrency exchange Bitpoint promptly suspended its services after noticing an error in the outgoing funds transfer system. Soon, an official announcement followed, revealing that the trading platform had lost around 3.5 billion yen (roughly $32 million) as a result of […]

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