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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.

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.


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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches




Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.


Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.


The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA




Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.


This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.


The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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