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Nets, Chainalysis collaborate to fight dirty Bitcoins

Monday 27 March 2017 09:13 CET | News

Nets, a Danish electronic payments provider, has teamed up with Chainalysis, an anti-money laundering software developer, to help banks validate Bitcoin transactions and comply with regulations.

This partnership comes in the light of an increasing number of customers among the Nordic banks that have asked for an effective tool to help them comply with legislation, Nets representatives said in a statement. Nets provides services to more than 240 financial institutions in the Nordic region including Danske Bank, DNB and Nordea.

According to Europol, an EU law enforcement agency, Bitcoin relies on computer algorithms to move money without a central processing authority, but also risks attracting illicit activities such as drug trafficking or money laundering.

Chainalysis, which collaborates with Europol, can help banks and law enforcement detect suspicious activity and link digital identities to digital currency.


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Keywords: Nets, Chainalysis, blockchain, Bitcoin, cryptocurrency, Denmark, Europe, Europol, AML
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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