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2021-08-27 01:39:21
According to the latest information, the Cardano Foundation – the entity behind ADA, the world’s third largest cryptocurrency – is partnering with blockchain analytics provider Coinfirm.io. This partnership is intended to ensure that the Cardano blockchain platform will fully comply with the Financial Action Task Force (FATF) anti-money laundering (AML) guidelines.
According to an announcement posted this week, the Cardano Foundation said that it will use analytics from Coinfirm.io to ensure compliance with anti-money laundering and counter-terrorism financing requirements. The company shares that this partnership will help Cardano fully comply with the FATF and the Sixth Anti-Money Laundering Directive of the European Union. Besides, it also ensures good implementation of directives from major countries.
Speaking about this partnership, Mr Mel McCann, Cardano Foundation’s Head of Technical Integration, had the following to say:
“AML/CFT analysis is essential for a cryptocurrency to gain mass adoption in regulated markets. The tools and services provided by Coinfirm allow any exchange, custodian, and all other third parties to clearly track the history of ADA activity held in their wallets.”
Not only that, but Mel McCann also said he will provide these analyzes for all other crypto assets minted on the Cardano blockchain. These are important moves by the platform in preparation for the upcoming September 12 Alonzo Purple upgrade. This is the final version of the Alonzo hard fork trilogy.
Currently, this is also one of the major Cardano events that the crypto community is very interested in. Because according to many revelations, this final Alonzo hard fork will help the Cardano blockchain complete a smart contract for its network.
In recent times, ADA – Cardano’s native cryptocurrency – is having very good growth as it has just achieved a new ATH at a price of almost 3 USD. This also helped increase the number of people becoming millions thanks to ADA by 173%. In addition, Cardano (ADA) was also officially traded in Japan on August 25.
With many positive moves and the upcoming Alonzo hard fork event, many people have expected the value of ADA to continue to grow and explode more strongly in September this year.
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