Venezuelan Big Business to Use Petro

Oil company PDVSA, petrochemical company Petroquimica de Venezuela and the corporation CVG will use Petro
21 February 2018   905

President of Venezuela Nicolas Maduro ordered several large companies of the country to conduct part of transactions using the national crypto currency El Petro, whose sales for the first day of preliminary sales reached $ 735 million.

This requirement applies to the oil company PDVSA, petrochemical company Petroquimica de Venezuela (Pequiven) and the corporation CVG, which is engaged in the development of minerals.

In addition, El Petro can now pay for consular services of Venezuelan embassies around the world, fuel for aircraft, hotels and travel services.

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.