Ethereum 

Chainalysis Adds ERC-20 Tokens to Its On-Demand Compliance Service

Blockchain analytics firm Chainalysis has announced the launch of its on-demand compliance and investigations software for several Ethereum (ETH)-based ERC-20 tokens. The company announced in a press release published on Oct. 3 that its Know Your Transaction (KYT) tool now supports tokens such as Basic Attention Token (BAT), DAI, GoldX, Maker (MKR), OmiseGO (OMG) and 0x (ZRX). Aggressive support expansion Furthermore, the company also announced plans to roll out support for 23 additional cryptocurrencies, including XRP, DASH, unshielded ZCash (ZEC), Dogecoin (DOGE) and Ethereum Classic (ETC) over the next three…

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Bitcoin 

Bitcoin Exchange PrimeXBT Partners With Bitfury to Ensure Compliance

Bitcoin (BTC) exchange PrimeXBT announced that it partnered with blockchain development firm Bitfury in order to ensure regulatory compliance. According to a press release published on Sept. 9, PrimeXBT will be using Bitfury’s blockchain analytics and cryptocurrency compliance software Crystal. The exchange hopes that the implementation will heighten its Anti-Money Laundering and Combating the Financing of Terrorism policies, as well as improve client security. A PrimeXBT official said: “As a responsible member of the global financial community we are faced with the important yet challenging task of eliminating money laundering,…

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Cryptocurrency 

How Facebook Libra Is Seeking Compliance, but May Not Launch by 2020

For the cryptosphere, August was marked by the hotly debated announcements of world giants regarding the releases of international cryptocurrencies. The People’s Bank of China (PBoC) announced the imminent release of a national digital currency, Walmart began developing its own blockchain, Binance launching the Venus project, and Pavel Durov’s TON finally shared its release date. The race was also joined by Facebook, which kept the development of its cryptocurrency a secret until the very last second. At the moment, the company is actively hiring specialists who can convince financial regulators to…

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Ethereum 

Amanie Advisors Support Ether’s Compliance With Islamic Finance Law

Islamic finance and Sharia advisory firm Amanie Advisors have established Ether’s (ETH) compliance with Islamic religious law. Ether receives Sharia endorsement In a blog post published on their website, Amanie Advisors announced that the firm has collaborated with the Ethereum Foundation to establish the platform’s compliance with Sharia religious law. As a result of the collaboration, the company released a paper with the main purpose of illustrating Ethereum’s compliance with Islamic morals, which concedes a Sharia endorsement of the project and the coin. In the white paper, the advisory firm…

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Cryptocurrency 

Facebook Stresses Libra’s Compliance With FinCEN at Senate Hearing

David Marcus, head of Facebook’s crypto wallet Calibra, stressed Facebook’s intent to be compliant with the United States Financial Crimes Enforcement Network (FinCEN) in distributing the Libra stablecoin. As a Cointelegraph correspondent reports on July 16, Marcus delivered his comments at the ongoing hearing on Facebook’s Libra with the Banking Committee of the U.S. Senate. Addressing the issues of money laundering and terrorism financing, Senator Cortez Mastro asked Marcus how Facebook is going to ensure that the platform is not being used for such purposes. Marcus responded that “this is…

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Cryptocurrency 

Regtech Startup Coinfirm to Investigate XRP’s Compliance With AML Provisions

Regulation technology startup Coinfirm will investigate how cryptocurrency Ripple (XRP) is being used, Forbes reported on June 26. San Francisco-based tech startup Ripple, which is largely behind XRP, has signed an agreement with Coinfirm, wherein the latter will explore XRP’s compliance with anti-money laundering (AML) provisions. Within the investigation, Coinfirm will reveal information such as whether XRP has been processed by a “mixer” — a technology developed to make transactions more difficult to trace and therefore easier to launder crypto — clustering, which enables a user to send small amounts…

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Bitcoin 

BitGo Completes Further SOC 2 Compliance Certification Year After Deloitte Award

Blockchain security firm BitGo has gained a further security certification from an external auditor after a review of its compliance, cryptocurrency industry news resource The Block reported on April 23. BitGo, which last year gained a service organization control (SOC) 2 Type 1 certification from Deloitte, has now upped its procedures to conform to the Type 2 requirements of the same standard. SOC 2 is a universal reporting framework, and Type 2 is known as “Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality or Privacy.” This…

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