Fireblocks Adds Crypto-Tracing Tool to Guard Against Money Laundering

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


Digital asset storage and transaction firm Fireblocks will start tracking cryptocurrency transactions to help enterprise clients align with anti-money laundering (AML) best practices.

Announced Monday, the Fidelity-backed company is integrating with a tracing tool from crypto forensics firm Chainalysis to ensure that crypto assets transferred to or form the platform are not in conflict with AML regulations.

Fireblock’s platform will leverage Chainalysis’ Know Your Transaction (KYT) product to monitor cryptos passing through it services in real time. KYT enables both institutional and retail clients to identify high-risk transactions by monitoring large volumes of crypto-related activity.

The system will “automatically log AML transaction reports to share with regulatory authorities,” Chainalysis said.

Chainalysis provides solutions that allow for the tracking of digital assets across multiple blockchains. It recently added tracing support for the privacy coins zcash and dash, claiming it could trace 99% of transactions related to the two cryptocurrencies.

“Both security and compliance are integral to building trust in the cryptocurrency industry,” according to Jason Bonds, chief revenue officer at Chainalysis. “By bundling product offerings with our integration partners through the Chainalysis Partner Program, we are ensuring our customers adhere to security and AML best practices.”

Israel-based Fireblocks passed an audit from professional services firm EY in December of last year demonstrating its compliance with industry data security standards.

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close