Global Regulators Set to Adopt Tough New Rules for Crypto Exchanges

coindesk.com/beyond-kyc-global-regulators-appear-set-to-adopt-tough-new-rules-for-crypto-exchanges

Among other things, they are wanting to implement a 'travel rule' for crypto exchanges. Means if you want to transfer your coins from one exchange to another, the first exchange will have to also pass along your KYC to the second exchanges. Just like banks. Bye bye privacy.

This isn't surprising considering there are more regulations on Cryptocurrencies coming in place every year and exchanges are getting stricter with KYC. One advantage with this is that it gives Cryptocurrencies more legitimacy and this will help mass adoption as it will give investors more confidence and allow big players to join the game.

MasterA1 said:

This isn't surprising considering there are more regulations on Cryptocurrencies coming in place every year and exchanges are getting stricter with KYC. One advantage with this is that it gives Cryptocurrencies more legitimacy and this will help mass adoption as it will give investors more confidence and allow big players to join the game.

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Yes but people mostly don't realize that the more regulations pile on, the more it will jkill volatility. And without volatility there is no risk. No risk means we can kiss our incredible profit potential good bye.

Volatility = Risk = Opportunity

Just look at any heavily regulated market, like stocks, etc. The daily volatility doesn't come close to what crypto does on almost daily basis.

This will FOR SURE, make people want to move their trading to a DEX.

Personally waiting for the Stakenet DEX to be released, FUCK regulation, taxes and KYC.

It's official. Exchanges have 12 months to comply with new regulations. A review of exchanges will be performed June 2020. This is a worldwide effect among countries that agreed. They met in Vienna, Austria last month with more than 300 attendees.

Under the new guidance published, the required information for each transfer includes

• (i) originator’s name (i.e., the sending customer);
• (ii) originator’s account number where such an account is used to process the transaction (e.g., the VA wallet);
• (iii) originator’s physical (geographical) address, or national identity number, or customer identification number (i.e., not a transaction number) that uniquely identifies the originator to the ordering institution, or date and place of birth;
• (iv) beneficiary’s name; and
• (v) beneficiary account number where such an account is used to process the transaction (e.g., the VA wallet).