Article
by the Crystal product team
December 14, 2022
The TRON network has earned tremendous traction in recent years, with over 114 million blockchain users and trending up, with 3.9 billion transactions. TRON hosts the largest supply of stablecoins globally. TRON is dedicated to revving the decentralization of the Internet via blockchain technologies and decentralized applications. Established in September 2017 by H.E. Justin Sun, the TRON network has delivered outstanding achievements since the MainNet launch in May 2018. In July 2018, TRON acquired the ecosystem of BitTorrent, a pioneer in decentralized services with over 100M monthly active users. This essential product update includes support for TRX. TRX is currently in the top 20, with over $5 billion in market capitalization. Approximately 7 million daily transactions occur in the network; on average $150M worth of TRX.
In our latest release, we implemented the Crystal Software Development Kit (SDK) for the API endpoints of Crystal Monitor. The SDK will allow users to integrate Crystal API more quickly and smoothly and to configure the integration.
We have updated the entity types and we are now introducing new categories that will help users understand risk profiles better.
The new categories and their default risk score in the Crystal profile are now:
The entity holds a business license specific to crypto assets, including custody, exchange, brokerage, or any other related financial service. It provides an exchange service where participants interact with a central party (the entity). It does not include non-specific financial service licenses and jurisdictions listed as non-cooperative with FATF.
The entity does not hold any specific business license for crypto assets and provides an exchange service where participants interact with a central party (the entity). It includes licensed entities but in jurisdictions listed as non-cooperative with FATF.
The entity holds a business license specific to crypto assets, including custody, exchange, brokerage, or any other related financial service. It provides an exchange service where participants exchange directly with each other. It does not include non-specific financial service licenses and jurisdictions listed as non-cooperative with FATF.
The entity does not hold any specific business license for crypto assets and provides an exchange service where participants exchange directly. It includes licensed entities but in jurisdictions listed as non-cooperative with FATF.
The entity is subject to legal proceedings. Jurisdictions will be annotated as a subtype.
In addition, we have created a new Risk Score Profile ‘recommended by Crystal’, which now considers the specifics of each entity type. Users can enable it in the Risk Score Profiles section.
Contact the team at contact@crystalblockchain.com to learn more about our solutions and our latest features. We’re happy to assist you!
Article
Crystal Monitor now supports TRX and 45 TRC20 tokens, including USDT and USDC. The TRON...
December 14, 2022
Product Update
Crystal has introduced new functionality – watchlist, alerts and stats to identify possible risks with...
October 18, 2022
Product Update
Crystal has introduced six new entity categories to strengthen compliance procedures and expanded the support...
April 1, 2022