Ethereum Classic (ETC) Labs, the developer and maintainer of the Ethereum Classic (ETC) blockchain network, has partnered with Chainalysis to offer an automated transaction monitoring solution called KYT (Know Your Transaction).
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ETC Labs says that Chainalysis will also offer the ETC Labs startups grantees access to Chainalysis subject-matter experts on compliance and regulation.
Chainalysis CRO, Jason Bonds, says cryptocurrency compliance is complex, and "it is often a barrier to entry for founders starting a cryptocurrency business."
"Compliance is critical for many cryptocurrency businesses, particularly those offering some form of exchange, custody, or other money services," Bonds added.
The partnership with Chainalysis comes after Ethereum Classic suffered three times in a row 51% attack against its blockchain network.
As a result of the attack, ETC Labs launched a new initiative with law enforcement and global regulators to bring accountability and transparency to hash rental.
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