How to monitor DeFi activity and mitigate the related risks?

Key takeaways: DeFi attracts more and more users, bringing AML and fraud risks to the crypto industry though. Regulators might be issuing DeFi regulations soon. The decentralized finance (DeFi) industry has been booming since mid-2020 and gathers more and more users. Indeed DeFi platforms such as decentralized exchanges (DEX), lending, »

Banks and cryptos: How to fulfill AML/CTF requirements?

Key takeaways: Cryptocurrency usage is increasing which leads to a growing demand for crypto services. Financial institutions are moving to crypto services to satisfy this growing need. They should satisfy crypto AML/CTF requirements and mitigate risks from their crypto exposure. With the recent expansion of cryptocurrencies and cryptocurrency usage, more »

South Korea: Latest developments on crypto and regulation

Key takeaways: It could be tricky for Korean exchanges to comply with the newly implemented AML/CTF regulations. South Korea could start its CBDC pilot test later this year. The country is also focusing on preventing crypto from being used for ML purposes. Crypto taxation will be implemented in January 2022. »

Data leaks and crypto hacks: how to mitigate risks?

Key takeaways: Facebook’s recent data breach exposed a lot of users’ information. Such breaches can put crypto funds at risk. Over the last few years, we have witnessed a number of crypto-related hacks. Amongst the most notorious ones, we can take the example of the Kucoin hack in 2020 or »

State of crypto regulation in Turkey

Key takeaways In April, two of the country’s exchanges collapsed. On April 30, Turkey implemented a ban on cryptocurrency payments. On May 1, AML/CTF requirements were imposed on crypto trading platforms. In the last few weeks, Bitcoin and cryptocurrencies have been a heated topic in Turkey as two of the »

OFAC latest sanctioned crypto addresses: How to mitigate ML/TF risks?

Key takeaways: OFAC recently added crypto addresses to its sanction list. It contains BTC, BCH, ETH, LTC, DASH, XVG, and ZEC addresses. Such addresses have a high level of ML/TF risks. The Office of Foreign Assets Control (OFAC) has recently updated its Specially Designated Nationals (SDN) list to include new »

Custodigit, the Institutional Digital Asset Gateway provider, partners with Scorechain, the leading compliance and AML software provider for digital assets.

This press release has also been published by Custodigit on May 6, 2021 and is available here. Luxembourg – Zürich: Custodigit AG (“Custodigit“), the provider of the ‘Institutional Digital Asset Gateway’ platform for digital assets covering the entire value chain, and Scorechain SA (“Scorechain”), the Luxembourg-based digital assets analytics and »

Report: Review of Bitcoin transactions in terms of ML/TF Risks

Scorechain released its latest report on Bitcoin transactions during the last 5 years (2016-2020) to give its perspective on the associated money laundering (ML) and terrorist financing (TF) risks. Download the FREE report here: https://scorechain.com/bitcoin_transactions_ml_tf_risks It has been more than a decade now that Bitcoin has been released. During this »