{"id":8623,"date":"2021-08-25T22:59:01","date_gmt":"2021-08-25T21:59:01","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8623"},"modified":"2021-08-25T22:59:11","modified_gmt":"2021-08-25T21:59:11","slug":"cardano-foundation-partners-with-coinfirm-for-regulatory-compliance","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cardano-foundation-partners-with-coinfirm-for-regulatory-compliance\/","title":{"rendered":"Cardano foundation partners with Coinfirm for regulatory compliance"},"content":{"rendered":"\n
Cardano's nonprofit organization partners with Coinfirm, a blockchain analytics service,<\/a> to ensure that ADA complies with the Financial Action Task Force's and other regulations.<\/h5>\n\n\n\n
\"Cardano<\/figure>\n\n\n\n

The Cardano Foundation announced on August 24 that it would be using Coinfirm's services to deliver Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>) analytics for Cardano's native coin, ADA.<\/p>\n\n\n\n

According to the foundation, the integration will allow Cardano to be in “complete compliance” with the Financial Action Task Force's recommendations, the European Union's Sixth Anti-Money Laundering Directive, or 6AMLD, and other rules that apply to it.<\/p>\n\n\n\n

Mel McCann, the Cardano Foundation's head of technical integrations, stated, “AML\/CFT analytics is important for a cryptocurrency to acquire mass acceptance within regulated markets.”<\/p>\n\n\n\n

\u201cEvery exchange, custodian, and all other third-parties can clearly follow the history of ADA kept in their wallets thanks to Coinfirm's tools and services<\/a>.\u201d<\/p><\/blockquote>\n\n\n\n

Coinfirm claims it will be able to deliver the same AML\/CFT analytics for Cardano assets, a figure that might grow as the project prepares to extend to smart contracts.<\/p>\n\n\n\n

The announcement comes as dcSpark, a blockchain startup, revealed its Milkomeda sidechain<\/a>, which will connect the Cardano and Ethereum blockchains.<\/p>\n\n\n\n

The ADA token's price has risen dramatically in the recent month, reaching an all-time high of $2.92 on Aug. 22. The coin presently has a market valuation of over $88 billion, making it the third-largest cryptocurrency ahead of Binance Coin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano’s nonprofit organization partners with Coinfirm, a blockchain analytics service, to ensure that ADA complies with the Financial Action Task Force’s and other regulations. The Cardano Foundation announced on August 24 that it would be using Coinfirm’s services to deliver Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT ) analytics for Cardano’s native coin, ADA. According […]<\/p>\n","protected":false},"author":12,"featured_media":8624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[75],"tags":[4026,193,4025,273],"class_list":["post-8623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-6amld","tag-cardano","tag-coinfirm","tag-fatf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Cardano-foundation-partners-with-Coinfirm-for-regulatory-compliance.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8623"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8624"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}