Chainalysis to help Lendingblock boost AML procedures
10 June 2019 London
Image: Shutterstock
Chainalysis is working with Lendingblock to implement anti-money laundering (AML) technology and best practices in anticipation of global regulatory guidance from the Financial Action Task Force (FATF).
Lendingblock will be able to protect its client base while also supporting regulatory frameworks by augmenting existing in-house know-your-customer standards and enforcing due diligence processes.
The FATF is expected to issue guidance in the coming weeks for jurisdictions that fall under its oversight, which consists of over 180 countries, to start regulating their cryptocurrency markets.
Jonathan Levin, co-founder and COO, Chainalysis, commented: “We are beginning to see the cryptocurrency community preparing for an influx of enforcement actions and regulatory guidance over the coming months.”
“Exchanges like Lendingblock are positioning themselves ahead of the curve by putting these procedures in place now to support clients globally.”
Steve Swain, CEO, Lendingblock, said: “It is important to create a secure and transparent lending exchange that not only meets the needs of our regulator, but also one that our institutional clients trust.”
He added: “Partnering with Chainalysis helps us ensure top-of-the-line compliance standards for our clients.”
Lendingblock will be able to protect its client base while also supporting regulatory frameworks by augmenting existing in-house know-your-customer standards and enforcing due diligence processes.
The FATF is expected to issue guidance in the coming weeks for jurisdictions that fall under its oversight, which consists of over 180 countries, to start regulating their cryptocurrency markets.
Jonathan Levin, co-founder and COO, Chainalysis, commented: “We are beginning to see the cryptocurrency community preparing for an influx of enforcement actions and regulatory guidance over the coming months.”
“Exchanges like Lendingblock are positioning themselves ahead of the curve by putting these procedures in place now to support clients globally.”
Steve Swain, CEO, Lendingblock, said: “It is important to create a secure and transparent lending exchange that not only meets the needs of our regulator, but also one that our institutional clients trust.”
He added: “Partnering with Chainalysis helps us ensure top-of-the-line compliance standards for our clients.”
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