Poland Isn't Interested in Petro

Poland’s Ministry of Finance has denied reports that it is interested in the petro, the Venezuelan ”oil-backed” cryptocurrency
26 February 2018   520

Earlier this month, Venezuela claimed that a few countries have expressed interest in receiving the petro for commerce with Venezuela such as Norway, Denmark, Brazil, Vietnam, Poland, and others. This is reported by Coindesk.

Minister of Foreign Trade of Venezuela, José Vielma Mora, according to Telesur TV said that Poland and a number of other countries have “expressed interest in exporting goods to Venezuela like food and medicine” and receiving payments for them in petro coins.

Polish issue Gazeta asked Polish Ministry of Finance for the comment.

The Ministry of Finance did not receive any letter in this matter…Cryptocurrencies are not issued or guaranteed by the central bank or other state institutions. Therefore, they are not legal tender or currency, they can not be used to pay tax liabilities and are not widely accepted at commercial and service outlets.
 

Polish Ministry of Finance 

The Venezuelan government reported last week that they has raised more than $1 billion from the petro’s pre-sale in just two days, but some experts believes that "petro hasn’t raised a dime".

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.