Chainalysis to Expand Transaction Monitoring Tool

Chainalysis AML software KYT now monitors 4 additional tokens in real-time: BNB, GUSD, USDT and USDC
25 April 2019   915

Analytical blockchain-startup Chainalysis reported that starting today, the proposed transaction tracking tool Chainalysis KYT (Know Your Transaction) supports four additional coins. Their number includes the internal token of the Binance BNB exchange, as well as the Gemini Dollar (GUSD), Tether (USDT) and USD Coin (USDC).

Thus, the anti-money laundering software Chainalysis supports 10 cryptocurrency assets. Prior to that, Chainalysis KYT allowed to track Bitcoin transactions, Ethereum, Bitcoin Cash, Litecoin, TrueUSD and Paxos Standard.

As CoinDesk notes, support for new assets has been added pending the publication of new guidelines for the Financial Action Task Force on Money Laundering (FATF).

Chainalysis is prepared to equip businesses with automated transaction monitoring for currencies beyond bitcoin. We expect that the launch of these multiple currency capabilities will help shape FATF guidance on the sector and help move away from technically infeasible solutions to more pragmatic recommendations.
 

Jonathan Levin

Co-founder and chief operating officer, Chainalysis

According to him, Chainalysis recently upgraded its technology, making it more scalable. Thanks to this, in the future it will be easier for it to add support for other new assets.

LocalEthereum to be LocalCryptos Now

Exchange's team believes they have advantages over LocalBitcoins, which "looks the same today as it did in 2012"
19 November 2019   116

LocalEthereum's P2P platform changed its name to LocalCryptos to support more cryptocurrencies, starting with bitcoin.

The possibility of buying / selling BTC has already been added, in the near future EOS, DASH and Litecoin (LTC), as well as Ethereum-based tokens are indicated.

According to the statement, the platform has more than 100 thousand users around the world.

With rebranding and the addition of bitcoin trading, the site competes with the popular P2P platform LocalBitcoins, and LocalCryptos believes that they have advantages. They include the non-custodian BTC escrow system and end-to-end message encryption.

Platforms like LocalBitcoins are centralized, custodial, and a far cry from private. These platforms are vulnerable to hacks and thefts like a centralized exchange.
 

LocalCryptos Team

Hackers have stolen several billion dollars from the past, and at least two incidents related to LocalBitcoins traders, the statement said.

LocalCryptos does not store user private keys and declares that it gives them full control over the funds.