2025 Risk Bulletin:
Identity Verification
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Q2 Identity Verification Bulletin
For all the latest updates in the Identity Verification space, check out our curated news below!
The European Union is tightening its anti-money laundering rules, introducing new regulations that ban the use of anonymous digital assets
The EU will ban anonymous digital asset wallets and privacy coins like Monero and Zcash by 2027 under new AML laws.
The rules target crypto service providers, requiring user ID checks for transfers over €1,000 and prohibiting anonymous accounts. A new authority will supervise major providers, with enforcement details now under consultation.
The next phase of digital identity in Europe is taking shape
Digital identity wallets are evolving beyond individuals, with the EU planning business wallets to boost trust, automate verification, and reduce costs in payments and KYC. Sweden’s model highlights public-private cooperation as key. Challenges remain in interoperability and identity proofing, but regulation under eIDAS II is opening new opportunities across Europe.
The future of no-KYC casinos
In the EU is uncertain as stricter AML and crypto regulations emerge. Though the EU doesn’t directly govern gambling laws, rising pressure on crypto-related services , along with national requirements for KYC, age checks, and affordability measures, could limit the reach of these anonymous platforms.
Employee Spotlight
Name: Sergei Sergejev
Role: Head of Products KYC
Why I joined G2RS: ZignSec has been purchased by G2RS. It is the second acquisition that I’ve personally gone through in this workplace. I’ve been charmed by the hospitality of the whole G2RS team during our first real meeting in London, and the workshops there proven to me that I’m working with highly motivated professionals that share a lot of core values and principles with me. The warm reception to the Product Management team and the culture of G2RS make me confident I’m in the right place to grow professionally as part of a more mature organisation with a team and resources to support both me and IDV products we bring to G2RS services.
Background: I was born and raised in Estonia. My journey in KYC started in 2018 when I was hired by a startup to be a business developer / verification agent. In the next 4 years, I’ve effectively rose up to the challenges presented to the company and got all the way up to managing director, after having established first Sales, then Customer Support and finally Product Management departments throughout that time by extent of my curiosity and ability to ‘work things out’. Discovery channel was all I watched apart from Formula 1 as a kid. I’ve led the startup through consolidation with ZignSec after departure of the co-founders, and since 2023 I’m in charge of Product Management of all the IDV products.