Global #Know Your Customer

The US federal government is ramping up regulatory measures in the cryptocurrency sector, imposing stricter Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations.

The United Arab Emirates (UAE) has recently implemented a new regulatory framework for cryptocurrency payments. While this move aims to establish a more secure and transparent financial environment, it has also sparked concerns within the crypto industry.

Sumsub, a leading global verification platform, has recently upgraded its Business Verification solution to tackle the growing challenges of Know Your Business (KYB) procedures. By expanding its coverage and incorporating additional data sources, Sumsub aims to improve the quality and accuracy of business verification processes while enhancing user experience.

A recent law in the United States grants the President expansive authority to restrict access to digital assets, sparking concerns among experts in the field. Scott Johnsson, a notable figure in digital assets, criticized the law for its wide-reaching implications, suggesting it could effectively empower the President to ban certain protocols and smart contracts.