This week, Chainalysis announced the completion of a full AML solution applied on the Bitfinex exchange. The blockchain analysis is becoming the next frontier of verification, as the Financial Action Task Force (FATF) rules start to be unrolled from the summer of 2020.
Regulators Worldwide Start Looking at Blockchain Activity Directly
Chainalysis remarks that institutions are starting to scrutinize blockchains themselves. The startup is offering its approach to proving the origin of funds for multiple coins and tokens.
Jason Bonds, Chief Revenue Officer at Chainalysis, commented,
Bitfinex is known as a destination for cryptocurrency traders seeking liquidity across various cryptocurrencies, and that volume requires an automated blockchain analysis solution in order to comply with regulations across the world…We are thrilled to work…