Gate.io Integrates Coinfirm to Implement AML Security
![](https://cryptonewswire.org/wp-content/uploads/2022/05/Gate-io.jpg)
To help combat money laundering and terrorist financing, Gate.io has partnered with Coinfirm, an industry leader in analytics and AML solutions for the blockchain sector. Through this collaboration, Gate.io will be able to leverage the capacity of Coinfirm’s cutting-edge analytics platform. In particular, the exchange will be able to use Coinfirm’s industry-leading analytics capabilities to protect its users and adhere to AML/CFT regulations around the world.
Why AML security matters in the crypto industry
The partnership between Gate.io and Coinfirm is intended to significantly improve the safety of digital asset exchanges around the world by allowing them to detect and prevent malicious behaviour in real-time. This is great news for retail and institutional investors alike who wish to stay on the right side of the law.
The collaboration is also anticipated to standardise Gate.io approach to AML/CFT compliance and risk management throughout the company’s global operations. This would make it simpler for the company to comply with regulations in different countries without negatively impacting the quality of service provided to its clients or driving up operational costs.
Furthermore, Gate.io now has a firm footing on which to build even stronger offerings in accordance with global and local AML/CFT requirements as a result of the agreement. For digital assets and cryptocurrencies, the Coinfirm Analytics Platform provides real-time AML/CFT risk management solutions by leveraging its expertise of more than 60 blockchains and over 1 million tokens.
The widespread belief that cryptocurrencies are used by money mules, drug traffickers and other criminals is a major roadblock to crypto’s integration into many nations’ mainstream economies. As a result, several governments have set up strict protectionist measures against crypto within the foundations of their economies. Furthermore, many investors have become wary of crypto due to the collapse of a number of major crypto companies over the past year. For this reason, a regulated environment like the one the new AML product from Gate.io provides is very much welcomed.