Regulations from the Financial Action Task Force (FATF) and the 6th Anti-Money Laundering Directive (6AMLD), mean that cryptocurrency services, and businesses exposed indirectly to cryptocurrencies, need to get compliant.
By integrating Crystal analytics alongside existing AML/CFT procedures businesses can manage crypto risk and comply with new legislation.
Here’s how Crystal Blockchain’s tools help companies adhere to requirements:
Risk identification for known blockchain entities.
Transaction monitoring for entities and addresses.
Entity connections and geographical tracing.
Understanding interactions to mitigate risk.
Sender, recipient and fund source assessments.
Crime control for businesses exposed to crypto.
Increased Blockchain Analytics Coverage
Crystal is delighted to add Bitcoin SV (BSV) and Ethereum Classic (ETC) to our list of supported cryptocurrencies on the platform. BSV and ETC are two important additions for crypto analytics, as the coins rank in the top 25 and 75 cryptos per market cap, as of March 2021. Crystal now provides analytics for seven of the most important digital assets. Crystal has also increased its monitoring support for ERC20 tokens to 1500+ and DeFi protocols to 80+.
Improved AML/ CFT Compliance Tools
Crystal continues to expand its offchain coverage for all platform currencies, adding coverage of 1,187 new entities and 4.9 million new wallets on the analytics platform as of March 2021.