Bittrex Loses BitLicense Bid over Shoddy KYC Technique
Cryptovest
Published Apr 11, 2019 08:25AM ET
Updated Apr 11, 2019 09:42AM ET
Bittrex Loses BitLicense Bid over Shoddy KYC Technique
Bittrex, one of the most active US-based exchanges, failed to receiveBitstamp . The reasons for the decline in renewing the business license were discrepancies and omissions in the know-your-customer screening procedure.
The exchange refuted the harsh accusations, stating that its procedures, unrolled over the years were adequate. The market operator applied for BitLicense in August 2018, right after the new regulatory requirements came into force.
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