Solving the KYC/AML problem using Blockchain Technology

Why do we need KYC/AML? Know Your Customer (aka KYC) is the regulatory and compliance obligation for the conventional banking and financial system to capture customer information before onboarding and providing any financial services. In banks, KYC is embedded into the account opening forms, which mandate customers to provide accurate information and ideally update as soon as any change occurs in the KYC data. Similarly, other financial institutions such as Stocks, Mutual Funds, Insurance companies, etc. also require KYC information…

Crex24 Exchange Users Alarm over Lacking Transparency in the Network

Recently, Crex24 crypto exchange users, have accused the platform of not being truthful about the extent of the most recent hack. The accusations arose after the users noticed suspension of trades in several altcoins on the platform.  According to the customers, Crex24 has not been forthcoming about the reasons for them suspending the trading of over 60 altcoins. The most recent event in Crex24 is freezing the platform's multiple coins' withdrawals and deposits.   Although many people have accused Crex24 of…