[2019-10-18] Coinfirm is Helping to Solve Regulatory Risk Challenges

[FreeEarnsActivist]

While the cryptocurrency ecosystem has only been around for a decade, it has experienced a lot of growth and seen many changes in that short time. Coinfirm is a technology company focused on delivering high-quality compliance and anti-money laundering (AML) services to crypto companies to help them boost transparency and trust. Its extensive AML platform ensures companies and their clients that funds are not being used for nefarious reasons. And its array of other compliance and advisory offerings add value to tech startups and traditional financial institutions entering the world of blockchain. Coinfirm recently added Trudatum to its product line, which allows users to easily verify the authenticity of any type of document.

The Coinfirm AML/KYC Platform & AMLT:
https://www.youtube.com/watch?v=WqNMiR-bgZE

More: https://www.cardrates.com/news/coinfirms-regulatory-platform-and-the-safe-adoption-of-crypto/

[elda34b]

It would be better if they also help customer verify the 'identity' of the exchange, so they don't run away after a few months operating and scamming people for a hundred or thousand dollars.

[bbc.reporter]

@elda34b. Agreed!! Also, the regulators, the government and the large corporations that control it has violated our privacy through KYC and declare that they are doing it for our security. We should be secured from them!

[th3nolo]

It would be better if they also help customer verify the 'identity' of the exchange, so they don't run away after a few months operating and scamming people for a hundred or thousand dollars.

This would be interesting, companies like Local Bitcoin are redoing the KYC process to users that have already confirmed their identity with them, and that sucks!

Also, options like this could avoid data breaches like the one that happened with Binance when one of the companies they used to outsource the KYC process was hacked.

source:
https://cointelegraph.com/news/binance-kyc-breach-did-it-happen-and-if-so-whos-to-blame
https://www.coindesk.com/binance-kyc-issue

[ecnalubma]

One of the key to adoption is really regulation, to be acceptable by government every blockchain project should comply with it and no excuse. It is the only ticket that every blockchain to provide in order to have a normal flow of businesses.

[adroitful_one]

@elda34b. Agreed!! Also, the regulators, the government and the large corporations that control it has violated our privacy through KYC and declare that they are doing it for our security. We should be secured from them!

This is an old tactic. Our governments have been doing stuff to violate our privacy for as long as they have been around and using the excuse of "for your safety" every time. All they care about is being able to get information from these exchanges in order to collect their share of whatever it is you earned. You can pretty much guarantee that in a few years there will be a lot of people getting in trouble with the IRS because they forgot to pay taxes on some Bitcoins they had sitting on an exchange a few years back and forgot about.