Tag

Know Your Customer

All articles tagged with #know your customer

Robocall Crackdown Could End Anonymity, FCC Signals Privacy Tradeoffs
technology-policy16 days ago

Robocall Crackdown Could End Anonymity, FCC Signals Privacy Tradeoffs

The FCC is weighing sweeping Know Your Customer rules that would require government ID, a physical address, full legal name, and an existing phone number to obtain or renew voice service, with fines of $2,500 per illegal call charged to providers. While officials say the goal is to stop scams, critics warn the regime could erode semi-anonymous communications (burner phones) and sweep in red flags like crypto payments or nonmatching addresses, potentially harming vulnerable users; the rules are not yet in force and the commission is seeking public comment on privacy concerns.

EU's Crypto Regulations: From Limits to Smart Contracts and Anti-Money Laundering
cryptocurrency-regulation3 years ago

EU's Crypto Regulations: From Limits to Smart Contracts and Anti-Money Laundering

Bitcoiners projected the cryptocurrency's logo with a message to "study Bitcoin" on the European Central Bank building in Frankfurt, as the European Parliament adopted a new draft bill focused on Anti-Money Laundering and Countering the Financing of Terrorism. The bill sets out potential new rules enforcing Know Your Customer requirements for traditional financial and crypto-related services, and seeks to restrict cash and cryptocurrency payments for goods and services where customers cannot be identified. The rules limit cash payments to up to 7,000 euros for cryptocurrency transactions or 1,000 euros if the user's identity is unknown. The bill is separate from the European Parliament's impending Markets in Crypto-Assets bill, which is set to come into effect in 2024.