Cardano Foundation, a non-profit organization that supervises the development of Cardano, has announced it selected Coinfirm to comply with AML requirements of the blockchain ecosystem. With the partnership, Cardano reportedly wants to comply with the Financial Action Task Force's guidelines.
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"The tools and services provided by Coinfirm enables every exchange, custodian, and all other third-parties to clearly track the history of ADA held in their wallets," said Mel McCann, Head of Technical Integrations.
Cardano Foundation says Coinfirm will also enable AML/CFT analytics for all assets created on the Cardano blockchain. The partnership comes as Grayscale Investments, a cryptocurrency-focused management company, announced the listing of ADA into its Digital Large Cap Fund. The company purchased ADA as part of its quarterly rebalancing.
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