Bittrex Loses BitLicense Bid over Shoddy KYC Technique By Cryptovest

Bittrex, one of the most active US-based exchanges, failed to receive BitLicense after years in application attempts, just a day after the business permit was awarded to the European exchange Bitstamp. 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.

This is not the…

This article appeared first on Cryptovest

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