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The IdentityMind Blog

US Government Sanctions Bitcoin Addresses — How This Will Impact Your Financial Institution

December 5, 2018

For the first time, bitcoin addresses have been added to an Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list On Wednesday, November 28, the US Treasury added two bitcoin addresses to the OFAC SDN list. For those not familiar, a bitcoin address is similar to a bank account number in that it […]


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What do Mark Twain and ICOs have in common?

September 13, 2018

Recently, Coindesk published an article stating, ”The ICO is over”. What we’ve found, in the words of Mark Twain, “The reports of my death are greatly exaggerated.” We have signed almost 200 ICOs, in fact, 10% of ICOs who conduct Know Your Customer (KYC) and Anti-Money Laundering (AML) use our services. We thought we’d share […]


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Ensuring Compliant Security Token Sales: Polymath in Paradise

July 19, 2018

Last week, Polymath brought together 40+ individuals from across the blockchain space including developers, KYC experts, securities lawyers, and transfer agents, to the beaches of Barbados with the goal of building a protocol for security tokens. Specifically, Polymath’s goal was to receive feedback on their ST-20 protocol which will serve as a backwards-compatible extension for […]


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ICOs and Virtual Currency Exchanges: A Mid-Year Review

July 9, 2018

We just crossed the halfway point of 2018, and IdentityMind has spoken with over 650 companies conducting ICOs and helped with over 100 ICOs so far, with the total rising to 175 if you include 2017. These range from large utility tokens with over 25,000 contributors needing KYC, to small security tokens with 10 contributors […]


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Are ICOs Money Service Businesses now?

March 20, 2018

In one of our recent webinars, Sarah Hody, of the law firm Perkins Coie stated that “If a token is administrating or exchanging virtual currencies, FinCEN could deem the ICO issuer a money transmitter, which would require them to be registered under the federal BSA guidelines.” Well, FinCEN recently revealed a letter where they state […]


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