August 25, 2022 – IDnow, a leading provider of digital identity verification solutions, has announced its membership in the EU Crypto Compliance Consortium. This strategic move demonstrates IDnow’s commitment to enhancing the security and compliance aspects of cryptocurrency transactions within the European Union.
The EU Crypto Compliance Consortium is a collaborative initiative composed of industry leaders, regulatory bodies, and technology experts dedicated to establishing best practices for crypto compliance in Europe. By joining forces with other key players in the market, IDnow aims to contribute to the development of standardized compliance frameworks and protocols.
As the use of cryptocurrencies continues to rise, so does the importance of ensuring regulatory compliance. Governments and financial institutions across the EU are working to implement tighter controls and compliance measures. IDnow’s expertise in digital identity verification positions the company to play a pivotal role in supporting these efforts.
By becoming a member of the EU Crypto Compliance Consortium, IDnow gains access to valuable insights, knowledge sharing platforms, and collaborative projects. This collaborative approach aligns with IDnow’s commitment to continuous innovation and providing cutting-edge solutions to its clients.
Andreas Bodczek, CEO of IDnow, expressed enthusiasm about joining the consortium: “We are excited to join hands with other industry leaders and contribute to the development of strong crypto compliance practices. IDnow’s experience in ensuring secure digital identity verification will undoubtedly strengthen the consortium’s efforts.”
With its participation in the EU Crypto Compliance Consortium, IDnow aims to foster greater trust and transparency in cryptocurrency transactions by advocating for robust compliance measures across the EU. Ultimately, this collaboration will benefit businesses, consumers, and regulatory bodies alike, helping to create a more secure and regulated crypto landscape.
To learn more about IDnow’s involvement in the EU Crypto Compliance Consortium, visit their official website here.