MENLO PARK, Calif.–(BUSINESS WIRE)–Mar 11, 2019–The Malta Financial Services Authority (‘MFSA’) is partnering up with CipherTrace Compliance Monitoring to reveal and manage enterprise dangers associated with Malta certified digital asset businesses and cryptocurrencies. The CipherTrace Compliance Monitoring solution constantly rates the dangers of cryptocurrency businesses to protect customers, buyers, and enterprise partners.

“Being strongly aware of the cash laundering and financing of terrorism dangers associated with entities running on this sphere, the selection has been taken to have interaction the services of CipherTrace for you to reduce fraud and hit upon transactions with unlawful assets of the price range. CipherTrace is a powerful Supervisory Technology (‘SupTech’) device which, thru the cryptocurrency anti-cash laundering, cryptocurrency forensics, and blockchain risk intelligence answers it gives, will allow MFSA to manage the hazard associated with virtual asset corporations. CipherTrace Compliance Monitoring will offer the MFSA with effective oversight tools to automate regulatory techniques and audit the hazard management of digital asset agencies that are certified in Malta,” said MFSA Chief Executive Officer Joseph Cuschieri.


CipherTrace Compliance Monitoring uses system gaining knowledge to de-anonymize transactions, enabling regulators to evaluate and screen the trustworthiness of virtual asset businesses. This solution tracks the risk exposure of virtual asset agencies such as cryptocurrency exchanges, collective funding schemes, and initial coin offerings (ICOs) to gauge and measure capability exposure. “This SupTech will permit the MFSA to monitor the activities of crypto corporations both pre- in addition to publish-authorisation level,” said Dave Jevans, CEO CipherTrace.

“Cryptocurrency businesses regularly have difficulty establishing agree with and keeping banking relationships because of their perceived chance. Banks and different economic institutions use the CipherTrace Compliance Monitoring solution to help determine which digital asset companies to believe in as corporate customers. These insights assist banks in avoiding de-risking through turning away treasured customers in this profitable and speedy growing area,” stated Dave Jevans, CEO CipherTrace.

CipherTrace helps guarantee the trustworthiness of virtual asset marketplace members international, and thru its Compliance Monitoring solution, it can provide a large, excessive-decision view of the cryptocurrency transaction landscape. CipherTrace device learning algorithms calculate chance degrees for exchanges, addresses, wallets, and other entities based totally on regarded associations, criminal addresses, and cash laundering offerings. CipherTrace also profiles loads of worldwide exchanges, dark markets, mixers, gambling offerings, high-yield funding products, and ATMs to decide chance stages of transactions primarily based on activity associated with suspicious addresses and wallets.

About CipherTrace

CipherTrace develops cryptocurrency Anti-Money Laundering, cryptocurrency forensics, and blockchain threat intelligence answers. Leading exchanges, banks, investigators, regulators, and digital asset corporations use CipherTrace to trace transaction flows and observe regulatory anti-money laundering necessities, fostering trust inside the cryptocurrency financial system. Its quarterly CipherTrace Cryptocurrency Anti-Money Laundering Report has emerged as an authoritative industry facts source.

CipherTrace is based in 2015 by experienced Silicon Valley entrepreneurs with deep know-how in cybersecurity, eCrime, payments, banking, encryption, and digital currencies. The U.S. Department of Homeland Security Science and Technology (S&T) and DARPA to start with funded CipherTrace, and its miles backed with the aid of leading Silicon Valley mission capital traders. Visit www.Ciphertrace.Com for greater statistics or follow the corporation on Twitter: @CipherTrace and LinkedIn: /employer/CipherTrace

About MFSA

The MFSA is the single regulator of economic offerings in Malta, masking banks, insurance corporations, funding services, trusts, and pensions. Over 2,300 entities are certified by the MFSA to operate inside the economic offerings zone, making up 11% of the Maltese Gross Domestic Product. As of closing year, the MFSA has become the primary European regulator to expand a framework to alter virtual financial assets. The MFSA’s undertaking, as enshrined in its Vision 2021, is to decorate its function as an unbiased, proactive, and truthful supervisory authority with the primary cause of safeguarding the integrity of markets and maintaining balance in the economic zone for the benefit and protection of customers.