68% of American and European crypto exchanges and wallets  do not offer their clients the procedure of verification

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2018-06-11
68% of American and European crypto exchanges and wallets  do not offer their clients the procedure of verification

After the in-depth research of the cryptocurrency industry P.A.ID Strategies concluded that 68% of American and European crypto exchanges and wallets  do not offer their clients the procedure of verification of the account upon registration.

The study was conducted among 14 crypto exchanges and 11 wallets with the largest transaction volumes, including Kraken, Coinbase, Gemini, Poloniex, Luno, Bonpay and Mercatox. Identification of users occurs by confirmation via e-mail and SMS.

However, the researchers suggest that the situation may change next year, after the adoption of the fifth Directive on combating money laundering in the EU, which requires full identification of its clients.Recall that in March, members of the European Parliament approved amendments to the Directive on combating money laundering, obliging providers of cryptocurrency wallets  and the virtual currency platforms to conduct user verification and transaction monitoring, as well as providing stricter rules for preventing tax evasion.

It is worth mentioning that the largest crypto-exchange Binance, announced its plans to launch a fund that would support companies operating in the field of blockchain and digital currencies.

According to the head of the program Binance Labs Ella Zhang, the funds for the fund will come from the company’s own reserves. The funds will be allocated gradually, during 10 stages (each time – at $ 100 million).

She also notes that the new organization will be a combination of a fund of funds (investing in other funds) and a company investing in blockchain projects directly.

As for the fund of funds, this unit will select 20 investment facilities. The size of assets under the management of companies participating in the new fund should be at least $ 100 million. It is noteworthy that Binance will invest in these funds through its own BNB token.

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CRYPTOCURRENCIES
  • bitcoinBitcoin$3,602.99
  • rippleXRP$0.320956
  • ethereumEthereum$119.03
  • tetherTether$1.00
  • eosEOS$2.42
  • stellarStellar$0.105282
  • litecoinLitecoin$30.88
  • cardanoCardano$0.043766
  • tronTRON$0.024613
  • moneroMonero$44.53
  • iotaIOTA$0.304678
  • nemNEM$0.055999
  • dashDash$69.93
  • neoNEO$7.52
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