4/3/2023 0 Comments Kyt intelligent risk engineIn January, Coinbase appointed Thaya Knight as Senior Public Policy Manager. This year, Coinbase has strengthened its regulatory department. With increasing adoption of crypto and regulatory scrutiny amid the development of Web3, Coinbase is focusing on regulatory compliance. As a result of the intentions of the SEC, Coinbase postponed the Lend program. Last year, Coinbase announced that the SEC was looking to sue them for their “Coinbase Lend” program. In expansion mode, exchanges focus on regulatory compliance The launch of Coinbase Intelligence comes amid increasing regulatory scrutiny in the US and abroad. Utilize product capabilities designed in partnership with our world-class testing team. Identify action points for intervention with seamless integration with other case management tools and transaction monitoring systems. Reduce fraud, reduce counterparty risk, and help characterize AML risks with sophisticated risk scores and alerts. Link activity to real-world entities and visualize the flow of funds using public attribution data. Key features of Coinbase Tracer, formerly called Coinbase Analytics, include Screen transactions extensively for counter-terrorism financing and other AML-related flags. Receive alerts to enable proactive risk management when there is a change in the risk profile.Įasily configure rules engine and unique risk insights in existing third-party case management tools. “As the largest regulated exchange in the US, it has been important for us to work on developing safeguards against bad actors.”Īutomate real-time transaction monitoring for millions of transactions by creating risk scores for addresses. “Provides a new product, Coinbase Know Your Transaction (KYT), and an update to our existing product, Coinbase Analytics.” As part of Coinbase Intelligence, Coinbase is offering, The product suite aims to “secure the crypto economy from bad actors”. Coinbase developed Coinbase Intelligence to meet the compliance needs of crypto businesses, financial institutions, law enforcement agencies and new-to-crypto companies. Coinbase launches Coinbase Intelligence to tackle regulatory riskĬoinbase on Thursday announced the launch of Coinbase Intelligence. With regulatory uncertainty a problem for cryptocurrency platforms, Coinbase is looking to meet the expectations of investors and regulators and Coinbase users. The lawsuit comes amid increased news coverage of the SEC case against Ripple (XRP) going on since December 2020.Ĭoinbase is not the only one facing scrutiny, with Binance and other major crypto exchanges often facing the wrath of regulators. In March, Coinbase users filed claims against the exchange for allegedly illegally selling securities. Last week, Coinbase launched its NFT marketplace CoinbaseNFT, amid an increase in digital asset scrutiny.Ĭoinbase, a major crypto exchange, is no stranger to scrutiny. This week, Coinbase announced a new Coinbase Intelligence product for navigating the global regulatory landscape.Ĭoinbase aims to provide trust and customer protection with a robust platform compliant with regulatory requirements.
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