Articles

An analysis of cryptocurrency transactions made by crypto-criminals post-theft between 2015 and 2020, with a look at the fund flow patterns made using this stolen crypto.

At the V20 Summit in November 2020, the co-chair of the FATF’s Virtual Asset Contact Group, Sandra Garcia, stated that regulatory requirements for P2P exchanges may emerge in 2021 to combat AML, as they come under the same hood as VASPs. The FATF is currently collecting data on P2P exchanges to allow their guidelines to reflect P2Ps (likely to be added June 2021).

Crystal Blockchain spoke with the deputy minister of the Ukrainian Ministry for Digital Transformation, Alex Bornyakov, about blockchain tech and regulatory developments happening in Ukraine, and how its partnership with Crystal advances that purpose.

A number of industries were put on pause this year due to the COVID19 pandemic. However, regulatory guidelines for the cryptocurrency markets continued to be a priority internationally in 2020, and legislation in the blockchain industry is ever more imminent. This, along with an increasing amount of cryptocurrencies being utilized for suspicious activities, has meant that Crystal Blockchain’s risk assessment and transactions and connections monitoring solution for virtual asset service providers (VASPs) has been an increasingly important tool to combat ML.

FICO, a global analytics leader, and Crystal Blockchain of Bitfury Group ("Crystal"), a leading digital currency analytics company, announced a partnership to provide cryptocurrency risk management and monitoring services. With an increasing number of financial service providers looking to expand services into the crypto market, the joint offering will help to protect new business models and effectively connect the worlds of virtual and fiat currency for the benefit of their customers.

When do VASPs need to employ the services of crypto AML and KYT compliance software companies to adhere to the FATF “red flag risk indicator” guidelines?

What types of cryptocurrency licenses are available internationally today?

It’s ten years since the first official cyber-terrorist attack of a crypto exchange, and despite technological advances, most cryptocurrency entities have not yet been able to develop sufficiently reliable security systems to minimize security breaches on their platforms.

Global cryptocurrency payments provider, B2BinPay, is working in collaboration with Crystal analytics to strengthen their cryptocurrency compliance procedures.

As traditional banks and financial institution become more directly involved with cryptocurrencies, they need to consider KYT as part of their KYC compliance due diligence