- Recently, the leading Anti-Money Laundering (AML) Company, Coinfirm, announced the launch of blockchain AML.
- However, AML has become a necessary component for protocols and related assets.
- From now, an element from crypto exchanges or financial institutions that interface with Tezos can accomplish AML guidelines.
Anti-Money Laundering has become a required feature for protocols
However, AML has become a necessary component for protocols and related assets. That needs a leading position in the market and the capacity to work in controlled markets globally.
Perhaps, the biggest detour for the development of blockchain protocols and cryptocurrencies in the global regulated market is focused on AML compliance guidelines. Besides this, AML compliance solutions make sure that the government, financial organizations, and buyers can have confidence their transactions are not presented at all to unlawful or illicit conduct.
However, Coinfirm reported today that it had integrated Tezos into the Coinfirm AML Platform. Also, it will apply its 200+ proprietary algorithms and 300 risk scenarios to analyze risk on the protocol.
Users will have access to a full suite of AML compliance solutions
From now, any element from crypto exchanges or financial institutions that interface with Tezos can accomplish AML guidelines. Additionally, they will get access to a full set of AML compliance solutions. With AML risk reports, investigatory tools, real-time transaction monitoring, case management, and many more.
Coinfirm has flagged its reputation as a prominent AML, analytics, and RegTech solutions provider for blockchain and cryptocurrencies. The CEO and Co-Founder of Coinfirm, Pawel Kuskowski, stated that the users of the Coinfirm AML Platform that utilizes cryptocurrency exchanges, or financial institutions could actively use Coinfirm’s tools for Tezos and XTZ.
Further, he added that the main motive behind Tezos integration with Coinfirm’s AML platform is its Financial Action Task Force (FATF) and wider AML compliance.