Upbit, Chainalysis extend partnership for improved crypto compliance

Vlad Macovei

24 Apr 2020 / 5 Min Read

Upbit APAC will start using Chainalysis’ KYT (know your transaction) service to provide a safe trading environment and comply with the established procedures in the region’s different countries. Chainalysis KYT is a crypto anti-money laundering (AML) product that monitors transactions in real-time and detects suspicious activity that might be related to crime.

As South Korea’s regulation oversees Upbit Korea’s operations, the crypto exchange hopes to become ever more compliant. Furthermore, Upbit’s partnership with Chainalysis positions itself ahead of the regulatory frameworks for countries like Thailand, Indonesia, and Singapore. Upbit also hopes to comply with the impending enforcement of guidelines from the Financial Action Task Force (FATF).

Countries:

World

Vlad Macovei

24 Apr 2020 / 5 Min Read

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

Categories

Payments

Fraud and Fincrime

Fintech

Crypto, Web3 and CBDC

Regulations

M&A and Investments

Current themes

A2A Payments

Payment Orchestration

TradFi and DeFi Convergence

KYC, KYB and Digital Identity