On Dec. 14, 2021, the Senate Banking Committee on Banking, House & Urban Affairs convened a hearing to discuss the advantages and disadvantages of stablecoins. Stablecoins maybe privately issued cryptocurrency or algorithmic or “non-collateralized/decentralized” stablecoins such as DAI, an algorithmic stablecoin issued by MakerDAO. Stablecoins differ from other cryptocurrencies because their value is linked to government-issued…
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The Financial Action Task Force (FATF) recently reported that only 58 out of 128 reporting jurisdictions advising that they have now implemented any the revised FATF standards, including the “travel rule.” This aligns with what we have found through our work with the FATF and with leading VASPs — identifying the Sunrise Problem as…
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CipherTrace offers a variety of training and certification programs to help users understand the intersection of cryptocurrency and financial crimes. These classes allow users to leverage the expertise and best practices of our team of cryptocurrency AML experts and forensic investigators to learn how to minimize risk, prevent and detection financial crimes. If you are…
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Recent headlines like the Colonial Pipeline Ransomware attack confirm that cybercrime is on the rise with no end in sight. The need for cryptocurrency intelligence built from immutable blockchain data has never been clearer. Attacks on critical infrastructure and financial institutions have accelerated at an alarming rate. The Biden administration has stated that “cybersecurity resilience”…
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In the wake of the Colonial Pipeline and JBS hacks, cybercrime and ransomware attacks continue to be top of mind for global corporations. As consumer purchasing moved to online transactions (digital trade) during the COVID-19 pandemic, the incidence of cybercrime also grew. FBI Director Christopher Wray recently compared the bureau’s shift to global ransomware threats…
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Cryptocurrency is revolutionizing traditional finance. Bringing his expertise in cryptocurrency and blockchain security to the Consensus 2021 virtual conference, CipherTrace CEO Dave Jevans was joined by Hailey Lennon (attorney at Anderson Kill, formerly at Silvergate) and Michael Kimani (creator at Cryptobaraza) for a lively discussion on “Crypto’s Thorn in the Flesh: Access to Banking Services.”…
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