Blockchain analytics firm Chainalysis has joined up with digital asset exchange CoinField to help with its Anti-Money Laundering, or AML, practices.
On Feb. 20 Chainalysis announced that CoinField plans to use Chainalysis technology. Keeping up with the trend of regulatory expectations and policing, CoinField said it will harness Chainalysis’ Know-Your-Transaction, or KYT, technology to keep an eye out for money laundering and other illegalities.
The Chainalysis tech CoinField will use pertains to movements around numerous crypto assets, including Bitcoin, Litecoin, Ethereum, and others.
Chainalysis’ Chief Revenue Officer Jason Bonds said:
“We both believe compliance is critical to the mainstream adoption of cryptocurrency, and we look forward to partnering with CoinField to promote the safe use of cryptocurrencies globally,” in the announcement.
In addition to employing Chainalysis’ KYT solution, CoinField said it plans to work with the blockchain analytics company’s Chainalysis Reactor as a way to dive deeper into perspicuous situations.
Chainalysis is a significant player in the crypto and blockchain space. The organization has provided significant data into a number of crypto-related thefts in recent years.
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.