Coinfirm and Chainlink will help DeFi projects …

Coinfirm and Chainlink Help DeFi Projects Meet Regulatory Requirements

Blockchain analytics company Coinfirm will take advantage of the Chainlink oracle network. It will integrate with Oracle’s AMLT product to provide anti-money laundering solutions to DeFi projects..

“The availability of Coinfirm AML data at the chain level will allow applications and users to add compliance as an optional feature. Thanks to this, decentralized exchanges, traditional finance and enterprises will be able to comply with legal requirements when interacting with the blockchain, ”the press release said..

Coinfirm’s AML solution includes over 270 criteria for assessing risks, the ability to add addresses to the blacklist and warnings about transactions with suspicious patterns.

Coinfirm and Chainlink will help DeFi projects ...

With the help of the solution of the two, companies interested in DeFi projects will be able to oblige users to pay a commission to the oracle, which, before sending funds, will check whether the address is on the blacklist. In addition, Oracle AMLT will allow you to block transactions coming from services to hide the identity of the sender, restrict wallets, the assets on which may have a criminal origin, and create whitelisting addresses.

Earlier, Cinneamhain Ventures partner Edam Cochran expressed the opinion that DeFi services will have to comply with the requirements of regulators if they do not want to repeat the fate of the BitMEX exchange..

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