BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Blockchain against money laundering: Chainalysis partners Wyoming State

Blockchain against money laundering: Chainalysis partners Wyoming State
In the latest blockchain against money laundering efforts Chainalysis partners with the Wyoming State to counter the illicit money transfers and money laundering. 



Cryptocurrency is often blamed for increased illicit money transfers and money laundering, albeit, with little proof. Ironically the same technology behind cryptocurrency is now being put to use to fight against the problem.



Blockchain against money laundering



The partnership aims to cover various financial sectors including the trust companies, money transfer services, different mortgage related activities and non-banking financials. The division of banking would be representing the Wyoming state.



The division would be using different Chainalysis services and products for compliance against money laundering, Bank Secrecy Act and other requirements such as know your customer (KYC).



Co-founder and chief strategy officer (CSO) at the blockchain research firm Chainalysis explains that the partners are focusing on establishing a regulatory framework that would allow safe, yet innovative solutions. The key to this system would be the Chainalysis transaction monitoring capacity that would allow the system to cover digital currencies as well.



The Banking Commissioner at the Wyoming State Albert Forkner expresses that the blockchain firm has equipped his team to oversee the digital currency transactions and ensure a safe environment. He furthers that the state is looking to harness the power of blockchain technology to fight crime in the digital arena.



Pertinent to mention here that Wyoming was the pioneering mover that allowed cryptocurrency and digital payments through banking institutions and licensing. Now it is also pioneering in the use of blockchain against money laundering. The efforts are being carried out in the light of national policy that allows any state or state bank to provide safe environment for cryptocurrency trading and dealing.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Blockchain against money laundering: Chainalysis partners Wyoming State


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News