RATE Group | Chainalysis Develops Crypto Trading Monitoring System for Bitfinex
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Chainalysis Develops Crypto Trading Monitoring System for Bitfinex

14 Dec Chainalysis Develops Crypto Trading Monitoring System for Bitfinex

Posted at 23:30h in Cryptocurrency News by

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Blockchain analysis firm Chainalysis has announced the development of a crypto trading monitoring system for cryptocurrency exchange giant Bitfinex. The news comes amid calls by financial regulators in different jurisdictions for robust oversight of digital currency transactions.

Meanwhile, Bitfinex and Tether are still embroiled in different legal tussles most of which hinge on alleged manipulation of the bitcoin (BTC) price. Industry commentators are still divided on whether Tether (USDT) has played any significant role in deliberately shaping the BTC price action at any time.

Chainalysis Helping Bitfinex to be More Compliant

Chainalysis announced the roll-out of its bespoke crypto trading monitoring tool on the Bitfinex platform via a press release issued on Thursday (December 12, 2019). According to the press statement, the Chainalysis Know Your Transaction (KYT) tool will enable Bitfinex to monitor crypto trades to screen for suspected money laundering and other illicit financial…

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