Crypto intelligence firm CipherTrace released a study on Oct. 1 reporting that more than half of the world’s cryptocurrency exchanges had deficient customer identification processes in place against money laundering. On the same day, the United States government announced that it had formally charged BitMex, a top virtual asset service provider, for “failing to implement required anti-money laundering procedures,” among other things.
The two events, surely unrelated, nonetheless appear to be part of an emerging compliance picture. Dmitri Laush, CEO of GetID — an identity verification solution provider — told Cointelegraph: “The recent U.S. Commodity Futures Trading Commission lawsuit against BitMEX is a prime example that regulators take these matters seriously.”
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