Blockchain
OKG Tech Launches OKLink Onchain AML Platform for Virtual Asset Compliance and Risk Detection
OKG Technology Holdings Limited (OKG Tech, 1499.HK), a leading blockchain technology company, launched an all-in-one anti-money laundering (AML) platform called OKLink Onchain AML, which ensures compliance and risk detection for virtual asset companies, DeFi projects and financial institutions through advanced know-your-transaction, know-your-address, blockchain indicators and security audit technologies. OKG Tech is the largest blockchain company in Asia that offers this type of regulatory technology (RegTech) platform.
In addition to supporting 100+ blockchains and having the most comprehensive ‘label’ library in the industry, the OKLink Onchain AML platform also supports a history of all transactions ever recorded across all of these blockchains. This makes OKLink Onchain AML platform the most secure and holistic risk detection and AML platform on the market.
OKLink Onchain AML ‘labels’ work by attaching identifiers to blockchain addresses in order to detect and identify risky contracts, addresses, tokens and illicit activities, as well as helping clients distinguish addresses that belong to exchanges, MEV bots, smart contracts, hackers, crypto whales and many others. The label data is combined with on-chain data analytics to enhance OKLink Onchain AML platform’s capability to provide automated and continuous transaction screening and tracing. This can be customized according to specific compliance programs, risk policies or other requirements.
OKG Tech Executive Director and OKLink Vice President Mr. Zhang Chao said: “OKG Tech is leading the way in making the virtual asset industry more transparent and secure with the official launch of OKLink Onchain AML platform. The platform also demonstrates OKG Tech’s continued commitments to developing and offering intuitive, blockchain-powered tools that help customers monitor risks and ensure compliance with the ever-evolving regulatory landscape.”
The OKLink Onchain AML platform is easy-to-use and powerful, allowing for a wide range of use cases, including:
- Virtual Asset Service Providers (VASPs) that are required to meet various jurisdictions’ regulatory requirements, such as those under Hong Kong’s VASP licensing regime, and to safeguard platform services against financial crimes and sanctioned individuals and corporations
- Financial institutions and service providers seeking enhanced compliance solutions that detect illicit activities on-chain, such as money laundering and terrorist financing, as well as fraud and theft
- DeFi projects and on-chain protocols that aim to detect and mitigate risks through customizable alerts for contract codes and funds associated with individuals and entities involved in financial misconduct, sanctions, money laundering, terrorist financing and other illicit activities
- Government entities and law enforcement agencies that aim to identify, monitor and investigate virtual asset transaction risks and financial crimes
The official launch of OKLink Onchain AML platform follows Hong Kong’s new licensing regime for VASPs, which came into effect on June 1, 2023. The new VASP guidelines aim to protect investors by implementing robust requirements and safeguarding measures related to custody of assets, segregation of client assets and cybersecurity standards. As VASPs are required to operate under Hong Kong’s regulatory framework, there will be a greater emphasis on fulfilling regulatory compliance requirements, including AML and on-chain transaction monitoring, in the region.
Aside from OKLink Onchain AML platform, OKG Tech offers several other solutions, including Blockchain Explorer, a one-stop data analysis platform for Web3, and Chaintelligence, an on-chain data investigation tool that facilitates investigations. To find out more about OKG Tech’s blockchain analytics tools, click here.
Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
-
Blockchain Press Releases5 days ago
DeFi Lens builds advanced Generative AI for Technical Analysis
-
Blockchain5 days ago
Venezuela’s Oil Giant Turns to Crypto as US Sanctions Bite Again
-
Blockchain5 days ago
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
-
Blockchain3 days ago
39% of Canada’s institutional investors have exposure to crypto: KPMG
-
Blockchain2 days ago
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
-
Blockchain6 days ago
PairedWorld Earns Blockchain Award Nomination, Secures $1.5 Million in Private Token Sales, and Welcomes BlackRock Venture Partner to Advisory Board
-
Blockchain4 days ago
Global Payment Gateway Industry Report 2024: Seamless Integration with In-Game Virtual Currency Systems Enables Payment Gateways to Contribute to the Monetization Strategies of Game Developers
-
Blockchain5 days ago
PairedWorld Earns Nomination for Best Blockchain Project for Social Impact, Secures $1.5 Million in Private Token Sales, and Welcomes Paul Taylor Who Is a Venture Partner at BlackRock to its Advisory Board