The company will also attempt to identify if funds have originated from a theft or hack, with the risk level being evaluated on a low, medium, and high scale from 0 to 99 (99 being the highest risk for money laundering). However, Coinfirm will not associate personal identities with the public cryptocurrency addresses.
Coinfirm’s new method aims to satisfy regulators’ need to have systems that are supposed to detect money laundering and other financial crimes without forcing cryptocurrency users to actually reveal their identity.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now