Latest News and Articles about KYC

California Resident Sues 6 Major Banks for $1M Crypto Scam: KYC and AML Failures Alleged

5 January 2025 Daily Feed AML, Crypto Scam, KYC, Pig Butchering

California Resident Sues Major Banks Over $1 Million Crypto Scam: Alleges KYC and AML Failures A California resident, identified as ‘L.H.’, has filed a lawsuit against six major banks—Bank of America, Capital One, Citibank, JPMorgan Chase, US Bank, and Wells Fargo—over a $1 million “pig butchering” crypto scam. L.H. alleges that the banks’ failure to […]

IRS Classifies DeFi Platforms as Brokers: Navigating New Regulatory Challenges

29 December 2024 Daily Feed DeFi, IRS, KYC, Regulations

DeFi at a Crossroads: Navigating Crypto Regulations and Compliance The future of decentralized finance (DeFi) hangs in the balance as the IRS unleashes a regulatory storm with new rules that could reshape the industry. On December 27, 2024, the IRS dropped a regulatory bombshell by classifying DeFi platforms and front-ends, the user interfaces of these […]