Scorechain's Blog

5 things to know about stablecoins

Stablecoins have been gaining traction because of their unique ben to the crypto market. These assets have attracted mainstream interest, including from investors seeking stability for their investments. Governments have also been looking at this asset class more closely. For example, Iran and Russia are reportedly collaborating on a gold-backed

The biggest crypto regulation developments of 2022

2022 was a challenge for the crypto industry. However, it also showed the need for better governance and crypto regulation in the sector from which positive outcomes could stem. Governments worldwide have continued to recognize the potential of crypto assets and their role in the global economy, which means the

Report: Anatomy of a Crypto Hack – NFT edition

After releasing the Anatomy of a Crypto Hack last year, Scorechain is releasing today its latest report: Anatomy of a Crypto Hack – NFT edition. This new report depicts the NFT industry and its regulatory overview. The report then examines how criminals can use these assets for laundering purposes and

MiCA set to be voted into law in 2023

The European Union (EU) has put forward the Markets in Crypto Assets Regulation (MiCA), which should be voted on by the European Parliament in 2023. It regulates transparency, disclosure, authorization, and supervision in the crypto market. MiCA approved by the EU council and ECON in 2022 MiCA was first proposed

Crypto AML & compliance basics

Crypto assets are one of the most dynamic, fast-changing, and innovative parts of the financial services area. However, innovation comes with risks; one primary concern among policymakers is the potential for money laundering tied to such assets. To address this issue, firms operating with crypto assets must implement crypto AML &

Blockchain and crypto: what to expect in 2023?

Here we are. 2022 is coming to an end. After crypto FOMO in 2021, the crypto winter has taken place, and it has been a long one. Only a few crypto investors take risks in the market, while most are waiting for the trends in 2023. So let’s look at

Scorechain adds support for cross-chain transactions for its blockchain analytics platform

Scorechain, the leading provider of blockchain analytics, added support for cross-chain transactions for enhanced crypto transaction monitoring. What are crypto cross-chain transactions? Cross-chain transactions occur when a user exchanges one crypto asset on one blockchain for another crypto asset on another blockchain. Cross-chain transactions are possible thanks to blockchain interoperability

Switzerland requires stricter identity verification for certain crypto transactions

FINMA, the financial regulator in Switzerland, published a partially revised Anti-Money Laundering Ordinance on November 2. The authority enacted the revision following the recent amendments of the Anti-Money Laundering Act and the Federal Council’s Anti-Money Laundering Ordinance. FINMA revises AML requirements for crypto assets The Swiss Financial Markets Regulatory Authority

Scorechain adds support for 14 additional blockchains, including Cardano, Stellar, and Polygon

After announcing a fully redesigned, all-in-one crypto AML platform offering enhanced performance, Scorechain, the leading European provider of compliance solutions for crypto asset regulation, adds support for 14 additional blockchains in its SaaS solution, bringing the blockchain coverage to 23. With this new coverage, Scorechain increased its blockchain monitoring capabilities

The collapse of FTX

FTX collapse: a leading crypto exchange FTX filed for Chapter 11 bankruptcy, announced on November 11. Following this, the company also faced a hack that drained over $500 million from their wallets on the same day. The impact of the FTX crash affects the whole crypto market as crypto assets