Withdrawal Issues, KYC/AML and cryptocurrency exchange regulations in 2019

[Fredomago]

Cryptopia "soft" restart

Finally, the New Zealand cryptocurrency exchange Cryptopia starts working, although in a limited "soft" mode, allowing users to just log in accounts.

Until users cannot trade or do anything, they will simply see their balances. It is also impossible to make deposits or withdraw funds from the exchange.

Users can no longer know how much money has been stolen from them, as balances show balances as of January 14, 2019, which were before the theft. As if no one had stolen anything.

For now, Cryptopia has uploaded “all balances before hacking”.

On March 5, Cryptopia announced that users can log in and change their passwords, as well as reset their two-factor authentication data (2FA). The exchange also stated that it is completing the process of compensation payments for users affected by the hacking.

Great news especially for those who have funds inside this exchange, knowing that there's still chances to recover back your money after
this hacked, hopefully the business will recover and send back those tokens that still available for the real owners.

[1714980504]

1714980504

[trash321]

I think if you pay attention to the fact that today there are a huge number of people who, all the same, are very serious about how the cryptocurrency is legalized today, I do not think that they will have questions on KYC, although the question here is exclusively in security.

[Yasya]

THE COURT HAS ADDED QUADRIGACX 45 DAYS TO SEARCH FOR CURRENCY ASSETS

The Canadian court granted the QuadrigaCX cryptocurrency exchange, which has lost access to users' funds for $ 190 million, for another 45 days to search for missing assets.

In addition, the court ordered the Amazon Web Services cloud service to transfer data stored in the personal account of former QuadrigaCX CEO Gerald Cotten.

The next hearing is scheduled for April 18th.

Earlier, EY reported that the six cold wallets of the exchange, where, as expected, tens of millions of dollars were stored, were empty, and the average monthly total balance on accounts from 2014 to 2018 was 124 BTC (about $ 460 thousand)

[Yasya]

Coinbase acknowledged the sale of its customers' data to third-party resources

Coinbase’s institutional sales director said that the company's acquisition of a start-up company Neutrino that led to users' protests and the launch of #DeleteCoinbase, was a necessary measure after one of the exchange’s partners broke the rules of cooperation.

One of the current platform vendors was selling the company's customer data to external sources, so the purchase of a controversial blockchain project is an attempt to make the platform more secure.

[Yasya]

Poloniex cryptocurrency exchange reduces transaction fees

The cryptocurrency exchange Poloniex announced a sharp reduction in transaction fees for users since March 6, 2019.

Thus, Poloniex has become a cryptocurrency exchange, with the lowest transaction fees compared to other US platforms.

The purpose of the changes is to create conditions under which traders will pay significantly less with the implementation of most transactions with digital assets. In some cases, the commission will be generally zero.

Many users of social networks enthusiastically responded to the minimization of transaction fees and trade optimization. But there are also users who have announced that the administration of the Poloniex exchange is allegedly misleading its customers, since minimal trading fees already exist for many operations at this platform, and the new exchange hasn’t offered anything to traders yet.

[valek.bruno]

The problems that are happening now with KYC and people who still send their documents really, it’s obvious that their documents will simply be resold to places that pay money for it. You must understand this.

[Yasya]

The terms of compensation to customers of the Cryptopia

The New Zealand Cryptocurrency Exchange Cryptopia, which suffered from hackers in mid-January, sent letters to customers describing the circumstances of the hacking and their further actions.

According to the site’s management, Cryptopia Loss Marker (CLM) tokens will be credited to affected users ’accounts, which are records in the database.

Cyptopia expects to proceed with the payment of compensation and resume trading until the end of March after the completion of the necessary legal procedures.

Also today, March 18, the exchange has temporarily resumed trading. Given that this was not preceded by an official announcement, experts suggest that the auction was launched in test mode. To date, the trades have been stopped, their daily volume amounted to slightly more than 10 BTC.

[Yasya]

GATECOIN STOPS WORK ON THE COURT'S DECISION

Last fall, Gatecoin signed an agreement with another provider, but the previous provider managed to block a significant amount of funds. Lawyers of the organization said that the chances for the return of all assets are incredibly small.

After that, the cryptocurrency exchange faced with the fact that it was not able to fulfill its obligations. On Wednesday, March 13, the court ordered the trading platform to proceed to the liquidation phase.

[Yasya]

Bithumb will cut half the staff

Cryptocurrency exchange is experiencing financial difficulties due to lower trading volumes.

Of the 310 employees of the South Korean Stock Exchange Bithumb, only 150 people will remain in the company. The leaders of the platform said that the reduction will be voluntary and will affect only those who independently decided to change their place of business. However, the employees themselves do not explain the reasons.

[Yasya]

Sponsored by Yahoo! Japanese cryptocurrency exchange Taotao will start in May

The Japanese cryptocurrency exchange Taotao (formerly BitARG), 40% of which belongs to a division of Yahoo! Japan will start trading in a limited number of cryptocurrency pairs in May.

Initially, users will have access to Bitcoin and Ethereum trading, as well as the ability to open margin positions on Litecoin, Bitcoin Cash and XRP.

[Yasya]

DragonEx Cryptocurrency Exchange hacked

Singapore Bitcoin Exchange DragonEx reported that on March 24 it became the object of a successful hacker attack, during which both user funds and digital assets of the platform were stolen. The amount of damage remains unknown, but the exchange has promised to take responsibility for the return of funds.

At the moment, it was possible to return some of the funds, but the platform’s activities have been temporarily suspended. As part of the investigation, the addresses were identified, on which the stolen funds were transferred. DragonEx called on other exchanges to track financial flows and, if possible, freeze assets.

[Nivelir]

There really are problems, and they will be especially in people who have gone through KYC, which is now received by a very large number of people. I hope that they will still remove the KYC process, which lately is not relevant at all, you understand that all this is nothing more than just a process for deceivers.

[Yasya]

CoinBene reported users’ funds are safe, but doubts remain

CoinBene, a cryptocurrency exchange that was in the spotlight of community attention due to unplanned technical work, said that user funds are safe.

However, representatives of the platform did not inform when the technical work would be completed. At the moment, according to users, the withdrawal of BTC, USDT and ETH has been resumed, but the situation with ERC-20 tokens remains uncertain.

[Yasya]

Zebpay Bitcoin Exchange has added support for Lightning-payments

Zebpay Cryptocurrency Exchange made Bitcoin payments available on the Lightning Network (LN).

To make the new option available, Zebpay users need to go into the wallet and activate it in the ‘Lightning’ tab. After that, it will be possible to make LN-payments for amounts from 1 Satoshi to 0.001 BTC.

[shaheer001]

I think at the moment Binance is friendly exchange as it s rules about trading,depositing and withdrawing fund are very simple and the best as 02 BTC withdrawal is enough for non verified account. But some exchanges like Bittrex need KYC for trading too and deposing to,

[Yasya]

KuCoin has introduced the option of buying cryptocurrencies using credit cards

The Singapore cryptocurrency exchange KuCoin has added the ability to buy cryptocurrency using credit cards.

Now KuCoin users can buy Bitcoins (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash ABC (BCHABC) and Litecoin (LTC) for dollars and euros. According to the announcement, the service is already available in more than 100 countries.

Card payments will be processed by the Israeli processing company Simplex, which provides its services to such major industry players as Shapeshift, Litecoin Foundation, Xapo and Changelly.

[ajdar.muxin.79]

It is always better to pass the KYC on every exchange, for sure if you have done your investigation and this exchange is legit. You are getting faster withdrawal channels, getting different airdrops and faster service.

[Yasya]

CRYPTOCURRENCY EXCHANGE NANEX STATED A CLOSING

Since October 2018, trading volumes on the platform did not exceed several thousand dollars per day, and recently they have dropped by an order of magnitude, while the number of its customers being online at the same time has reached 2-3 people.
Most of the assets have been withdrawn from the exchange by users today, but there are still funds on its hot wallets, which Nanex are also asked to withdraw as soon as possible - however, not later than 04/30/2019, when the cryptocurrency exchange server stops working.

[Yasya]

Coindelta Cryptocurrency Exchange closed in India

Indian cryptocurrency exchange Coindelta suspended work due to the adverse regulatory climate in the country

Representatives of Coindelta said that the marketplace faced severe restrictions on the use of banking services, which contributed to a significant increase in transaction costs. Subsequently, doing business was simply unprofitable.

Also, Coindelta noted that they do not see progress in creating a favorable legal environment on the part of the country's authorities.

Representatives of the company stressed that all trading operations on the platform were suspended on March 30. Orders are also closed, and funds are returned to users' wallets. The work of the latter will be extended until April 29.

[joseyphil82]

From your list binance is still the only exchange that goes easy on people who are not ready to drop there KYC info and thee are few other exchanges that doesn't even request profile like changelly.com ,just send coins or tokens and get them swapped ,easy as that and to me they are the safest