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European Exchange Front Running Compliance

August 10, 2019 12:53 pm

The Netherlands —  The upcoming European cryptocurrency exchange, EUCX, has begun implementing proposed regulations to stay compliant with future guidelines. Planning a 2019-2020 release, EUCX is designed to be the first exchange registered and endorsed by the banking and government sectors of the European Union. The exchange is also in the process of white-labeling their trading engine which boasts a potential throughput of 6 million transactions per second. 

The FATF, financial action task force, published international guidelines last month requiring all exchanges to be fully KYC/AML compliant, in addition to sharing cryptocurrency user data with various law enforcement agencies. Several other exchanges including Binance and Idex are implementing similar changes in order to avoid further scrutiny by international governing bodies.