BlockchainIntel Partners with Dash, to Provide Compliance Intel for Crypto Exchanges

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Blockchain based information and analysis company BlockchainIntel has partnered with Dash platform. The partnership will assist crypto exchanges and other crypto-related businesses in terms of regulatory compliance.

BlockchainIntel provides solutions for transaction monitoring. In simple words, it analyses transactions, and risk scores them based on evidence any illegal activity involved, which gives businesses and crypto exchanges an idea about whether companies or individuals are utilizing funds in a manner which it was meant to be.

Commenting on the partnership, BlockchainIntel CEO Karen Hsu stated that the partnership with Dash would allow the company to expand, as it brings more reliability to the business. The partnership will help crypto exchanges and companies engaged in crypto trade or payments processing businesses to keep the transactions in their network legit, and avoid nefariousness, he added. Hsu further said,

Our goal is to provide people, companies, and regulators a way to identify higher risk transactions that leads to increased trust in and continued adoption of digital currencies.

On the other hand, the partnership with BlockchainIntel is an important one for Dash, thinks Dash chief Ryan Taylor. It will be specifically useful for integration with new crypto exchanges, like the newly integrated eToroX. He said,

We are happy that our partner BlockchainIntel can address new exchange reporting requirements aimed at preventing money laundering and fraud. Companies such as eToroX are able to list Dash because they can provide the information regulators need using BlockchainIntel.

Cryptocurrencies have been accused by several major market influencers, including US President Donald Trump, of facilitating illegal activities like drug trafficking, terror funding, and money laundering. Many renowned crypto platforms have been accused of providing services for anti-social activities like prostitution and slave trade, though nothing has been proved yet.

Companies like BlockchainIntel are likely to play a major role in the future of digital currencies, as authorities around the globe are tightening their grip on the industry. These companies coming together with giants like Dash, will ensure legitimacy across platforms, keeping negative elements away.