How to trade crypto on Huobi Global —APP version [Huobi Crypto Guide]
Huobi Group announced the development of an analytical tool that allows you to monitor flows of digital assets in real time and identify their involvement in illegal activities..
Regulators violating the anonymous nature of cryptocurrency transactions increase their attractiveness to the shadow sector. Governments spend millions of dollars paying analytics firms to help them identify criminal channels. At the same time, according to a study by Chainalysis, most of the illegally obtained funds are laundered on the Binance and Huobi crypto exchanges..
Now Huobi Group has announced the launch of its own suspicious activity checker tool. It is intended for monitoring the accounting main, and upon detection of dubious actions, it will temporarily block the possibility of withdrawing funds.
According to the developers, a small proportion of cryptocurrency transactions are criminal, but any incident, regardless of its size, casts a shadow over the entire industry. Therefore, in order to prevent the harmful influence of fraudsters on the cryptoindustry, the exchange launched a new solution, and also began to actively cooperate with licenses regulated by various different services and the coordination of local AML / CFT, KYC requirements..
Besides, with the Financial Action Task Force on Money Laundering Using the Global Cryptocurrency Monitoring System in cooperation with the Financial Action Task Force on Money Laundering..
text: Ivan Malichenko, photo: Shutterstock