In response to the new FATF regulatory regulations, CipherTrace has established a KYC and anti-money laundering system in conjunction with encryption companies.

On July 2nd, blockchain security company CipherTrace is preparing to launch a solution with the blockchain identity platform Shyft to help cryptocurrencies comply with the strict new regulations recently mentioned by the Financial Action Task Force (FATF). . These companies will build an "know your customer" (KYC) and "anti-money laundering" (AML) ecosystem. According to reports, in this system, the exchanges involved in the transaction can safely transfer the proof of intellectual property without disclosing personally identifiable information.