Scorechain's Blog

ChipMixer, a prominent crypto mixing service, shut down

Last week, the US and Germany, with support from Belgium, Poland, Switzerland, and Europol, announced the shutdown of ChipMixer, one of the largest crypto mixing services. The shutdown is related to Chipmixer’s alleged involvement in money laundering activities. The action resulted in the seizure of over 1,900 BTC in 55

Implementing holistic AML monitoring for Polygon (MATIC)

Scorechain is the leading European provider of blockchain analytics tools. Our all-in-one crypto AML platform already supports over 30 blockchains. Today, we are happy to introduce our Polygon coverage and help customers enhance their AML monitoring for the blockchain. What is Polygon? Polygon is a blockchain network created in 2017.

OFAC adds crypto address owned by drug trafficking organization to the SDN list

OFAC adds additional Bitcoin address to the SDN list The Office of Foreign Asset Control (OFAC), a department of the US Treasury, is the authority responsible for sanction enforcement and managing the Specially Designated National (SDN list). The SDN list gathers individuals and entities that OFAC determined are involved in

5 things to know about XRP

XRP is one of the largest crypto assets by market capitalization. It has gained attention from financial institutions and investors for its potential to disrupt traditional banking systems. Here are 5 things you need to know about XRP. 1. What are Ripple and XRP Ledger? Ripple, founded in 2012, is

Crypto AML compliance in 2023: 5 things to consider

2022 has been a tough year for crypto assets, with the crypto winter and scandals that shook the industry. However, it also showed that the crypto industry needs better governance to regulate crypto activities and service providers while protecting consumer interests. While there was already a global trend in regulating

Crypto sanctions: how to comply in 2023?

Recently, the Office of Foreign Assets Control (OFAC) issued its first crypto-related sanctions of the year. This first wave of sanctions targets individuals and entities supporting Russia’s military complex and evading US sanctions. The aim is to increase pressure on Russia for its invasion of Ukraine and limit its access

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

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

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