Electroneum the first cryptocurrency to introduce KYC procedures

Thursday 4 October 2018 14:57 CET | News

The mobile-based cryptocurrency Electroneum have announced that users will have to comply with KYC by the12th of November 2018.

Electroneum has partnered with regtech company Yoti to enable its customers to complete elements of KYC via Yoti’s digital identity app. It will adopt a tiered approach to KYC, which will involve each user providing proof of identification based on the amount of ETN, Electroneum’s digital currency, they hold or send from their wallets.

Yoti will help to streamline and simplify the process by letting individuals prove their identity in seconds and share their verified details, removing the need for them to present forms of identification multiple times and keeping their documents secure.

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Keywords: Electroneum, cryptocurrency, KYC, Yoti
Countries: World