X-Meta Cryptocurrency Exchange Enhances Compliance Capabilities with Chainalysis
X-Meta Cryptocurrency Exchange announces today that it is enhancing its compliance capabilities with the blockchain data platform, Chainalysis. This partnership will help meet regulatory compliance requirements and propel safe cryptocurrency adoption in Mongolia.
X-Meta has implemented Chainalysis KYT (Know Your Transaction), a real-time transaction monitoring solution for compliance professionals. This tool will help X-Meta comply with local and global regulations by flagging risky and illicit activity in real-time and providing a deeper understanding of the funds used to purchase virtual assets.
The partnership with Chainalysis will provide X-Meta with a more precise line of sight into the transactions occurring on the platform, enhancing its security and establishing a comprehensive compliance and regulatory management process. The goal is to create a safer blockchain environment as cryptocurrency adoption continues to grow in the country.
Chief Executive Officer of X-Meta Cryptocurrency Exchange, Dave Lee, said, “As more and more markets around the world adopt new regulations, it was vital for us to find a compliance partner that could work with us as we expand our digital asset business globally. Jurisdictions worldwide are issuing regulatory requirements to cryptocurrency businesses to step up compliance procedures. Chainalysis was the obvious choice for us to enhance our compliance standards, and with the utilization of the Chainalysis blockchain data platform, we will ensure that our exchange platform meets the market need for user-friendly, reliable, and secure trading. Through our dedication to compliance, we hope to push the adoption of the digital economy with the world’s major regulatory bodies and enable customers to modernize investigations by leveraging the transparency of blockchains.”
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