Bitrue, the crypto trading platform announced that it is Bitrue Transaction Under Review 2022 by the Japanese Financial Services Agency (FSA) in early 2022. The FSA is investigating the platform’s “Know Your Customer” (KYC) and anti-money laundering (AML) procedures. The review comes after the recent hack on the platform that saw $60 million worth of XRP and other cryptocurrencies stolen
The FSA began its review of Bitrue after the hack on the platform that saw $60 million worth of XRP and other cryptocurrencies stolen. The Bitrue Transaction Under Review 2022 will focus on the platform’s “Know Your Customer” (KYC) and anti-money laundering (AML) procedures. The FSA is also investigating whether or not the platform has adequate security measures in place to protect user assets
Bitrue has stated that it is cooperating with the FSA and is working to improve its KYC and AML procedures. The platform has also said that it is beefing up its security measures to prevent future hacks
Bitrue Transaction Under Review 2022 Conclusion
The FSA’s review of Bitrue is a positive step for the cryptocurrency industry. The Bitrue Transaction Under Review 2022 will help to ensure that exchanges have adequate security measures in place to protect user assets. It will also help to ensure that exchanges are following KYC and AML procedures properly.