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Trustformer Collaborates with NTU to Elevate AML Efforts in Crypto

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Trustformer, the esteemed subsidiary of global blockchain solutions provider ChainUp, a frontrunner in global crypto asset security and compliance solutions, has embarked on a collaborative venture with Nanyang Technological University (NTU) to harness AI in the realm of anti-money laundering (AML). This initiative, bolstered by the support and funding from the Cyber Security Agency of Singapore (CSA), underscores Trustformer’s commitment to utilizing cutting-edge AI algorithms and AML methodologies to offer data and computational expertise to both NTU and the CSA.

Amidst the rapid evolution of digital finance and the cryptocurrency market, safeguarding against risks like money laundering and terrorist financing is paramount. With Trustformer’s robust crypto risk management and compliance solutions, Singapore government is poised to proactively monitor and mitigate suspicious crypto transactions, enhancing the overall safety and integrity of the digital asset sphere. Trustformer’s compliance technology solution aids regulators and researchers in scrutinizing suspicious stablecoin and cryptocurrency transactions, setting the benchmark for efficient and intelligent crypto financial regulation. The firm’s ongoing innovations in AML, crime investigation, ransomware, and suspicious transaction analytics further consolidate its position as a leader in applying AI to Singapore’s crypto regulatory landscape.

As an innovator in global regulatory tech, Trustformer’s Know Your Transaction (KYT) platform offers users a comprehensive suite for crypto transaction risk monitoring. The KYT solution enables risk warnings before transactions, risk scans of target addresses, and post-transaction analysis. This empowers users to proactively detect potential vulnerabilities and ensures compliance with global financial regulations. Furthermore, it aids regulatory bodies in effectively pinpointing risks associated with money laundering, criminal activities, illegalities, fraud, and other financial crimes.

Additionally, Trustformer’s KYT platform boasts advanced risk management and analytical capabilities, providing users with macro and micro insights into crypto asset and entity risk profiles, facilitating timely risk strategy adjustments.

In partnership with NTU,  the government’s vanguard for cyber and information security that guides Singapore’s cyber fortifications, Trustformer is dedicated to advancing blockchain security standards and practices. Both entities are committed to fostering a safer and more reliable trading environment for the global crypto asset community, marking a significant stride towards enhancing the safety and compliance of digital assets.

Blockchain

Ebang International Reports Financial Results for Fiscal Year 2023

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Blockchain

FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers

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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.

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Blockchain

Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets

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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.

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