BBQ Fly

[V e r i f y o @YO_KYC]

On 30 June 2026 the FCA published its final rules for the UK cryptoasset regime. The read that matters: producible compliance evidence is now the price of market access. What changed, and where the architecture sits ↓

[V e r i f y o @YO_KYC]

The cliff has passed. From 1 July, NCAs enforce — fines, censure, suspension, withdrawal. The paperwork question is settled; the architecture question isn't. Surviving CASPs must still evidence controls — those who did it without warehousing raw PII start the new regime ahead.

[V e r i f y o @YO_KYC]

Sumsub's new MCP integration stands up verification in minutes, not days. Genuinely useful. But speed isn't the architectural question: configured fast or slow, the stack still warehouses raw PII. Verifier-private attestation changes what's stored, not just how fast you start.

[V e r i f y o @YO_KYC]

KYC ongoing monitoring is three distinct operating models, not three names for the same thing. Periodic refresh. Trigger-based review. Continuous monitoring. Different evidence, different costs, different questions answered. The article walks all three.

[Merchant Token @merchant_token]

From 1 July 2026, MiCA's transitional window shuts. Any firm serving EU crypto clients without a licence is in breach and must stop. ~80% of EU platforms are still unlicensed ⚠ If you hold crypto on one, check it is authorised before the deadline. #MiCA #CASP

[V e r i f y o @YO_KYC]

ESMA refreshed its Interim MiCA Register on 19 June — authorised CASPs, ART/EMT issuers, non-compliant entities. Days before the cliff, the line between authorised and grandfathered sharpens. After 1 July, demonstrable onboarding compliance is what tells those two columns apart.

[V e r i f y o @YO_KYC]

Fewer than 1 in 5 pre-MiCA firms made it through to full CASP authorisation. The survivors absorb the market's volume — and their compliance stack becomes the moat. The hard part now: evidence MiCA-grade onboarding without warehousing the raw PII the deadline scramble multiplied.

[V e r i f y o @YO_KYC]

1,200+ crypto firms registered in the EU before MiCA. Days from the 1 July deadline, only ~210 hold full CASP authorisation. Roughly 75-80% face forced exit. ESMA has confirmed no extension. ↓

[V e r i f y o @YO_KYC]

25 October 2027.

That is the date the UK cryptoasset regime commences. Every authorised firm starts running a per-customer evidence pipeline that day. The gateway closes eight months earlier.

The gateway is a date. The architecture is an operating surface.

[Merchant Token @merchant_token]

⚠ UK cryptoasset gateway: opens 30 Sep 2026, closes 28 Feb 2027. Regime commences 25 Oct 2027.

SI 2026/102 layers FSMA on top of MLR 2017 (FCA AML supervision since 10 Jan 2020).

The architecture matters more than the date.

https://t.co/QZ2xXK1z5S #CASP

[V e r i f y o @YO_KYC]

Both Verifyo and Jumio satisfy FATF Recommendation 10 and AMLR Article 20. The compliance verdict is parity.

But the data shape that lands in your platform's logs is fundamentally different. A thread on what actually crosses the wire ↓

[V e r i f y o @YO_KYC]

Three rulings in a single week pushed the same instruction: a name on a list is not a decision. CJEU on OFAC matches. UK narrowing mandatory EDD. FCA pulling a payments firm for a framework that could not evidence one. The list is becoming an input, not a verdict.

[Merchant Token @merchant_token]

100k verifications/month.

Onfido: $150K–$350K/year paid away as service expense.

Verifyo Pro (75,000 MTO): $150K held on the balance sheet.
Tokens held — not staked, burned, or locked. Fully owned, transferable.

Held asset vs recurring expense.

https://t.co/yXwL0oBjMo

[V e r i f y o @YO_KYC]

1 July 2026. The MiCA transitional period ends. CASPs still operating without authorisation must wind down their EU client books — no further grace. Re-onboarding is lighter when KYC travels as a reusable attestation, not a fresh document pull each time. ↓

[V e r i f y o @YO_KYC]

The Verifyo vs Onfido matrix ticks the same rows: documents, biometrics, SDK weight, countries covered.

Two questions it never asks:

— Where does the user's PII live after onboarding?
— What does year-one compliance capital become on the balance sheet?

A 7-post read. ↓

[V e r i f y o @YO_KYC]

On 5 June ServiceNow patched a bug that let unauthenticated users query hosted customer-instance tables. No password required. Those tables hold support tickets, employee records, keys, credentials.

The pattern matters more than the bug. Here is why.

[V e r i f y o @YO_KYC]

Payer is a wallet, not a person. Identity-binding answers one half — who's behind the wallet. Transaction monitoring and source-of-funds analysis sit elsewhere; we don't do those. The wallet-to-verified-person bind is the half we own. https://t.co/g27T1pTdyV #stablecoins

[V e r i f y o @YO_KYC]

BSP confirms neither Binance nor BlockShoals holds a VASP licence in the Philippines. Sandbox status doesn't exempt central-bank licensing.

A two-regulator perimeter multiplies the onboarding evidence a firm must hold, not the identity. Reusable attestations collapse that.

[Merchant Token @merchant_token]

Paradigm + Hyperliquid to FinCEN: a wallet holding or transferring a stablecoin isn't the issuer's customer. GENIUS Act obligations calibrate to the primary market. Secondary is wallet-to-wallet. Where does the obligation attach? https://t.co/wwewcCxqXQ #GENIUSAct #stablecoins

[V e r i f y o @YO_KYC]

Five developments this week — three jurisdictions, one running question. When value moves, who proves who is behind it, and where does the evidence live? 6-12 June, in one thread. ↓