Nine Blockchains to Support Atomic AML Oracle by Coinfirm

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Coinfirm, a leading provider of illicit asset tracking and crypto AML compliance, has announced that its Atomic AML Oracle is expanding to an additional eight blockchains, improving subscriber crypto compliance, Coin Journal learned from a press release.

A response to updated FATF guidelines

Under the updated guidelines of the FATF (Financial Action Task Force), DeFi operators should be treated as providers of virtual asset services. Coinfirm created the Atomic AML Oracle in response to this move.

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More and more watchdogs around the world are seeking to bring decentralized finance (DeFi) into line with anti-money laundering laws and continue to fight scams, fraud, terrorist financing and other illegal activities.

Among them are the US SEC and CFTC. The EC has published recommendations in MiCA (Markets in Crypto Assets). These types of documents are expected to set the tone for DeFi regulation in the EU.

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A large digital reach

The AML Oracle will include a number of new blockchains, including Binance Smart Chain, Arbitrum, Avalanche, Fantom, Celo, Optimism, and Polygon.

It will be implemented on RSK and the Ethereum Classic blockchains in the near future, extending its already wide reach.

1,000 addresses blacklisted and still

A thousand addresses are already blacklisted. These are addresses marked as associated with terrorist financing, OFAC sanctions lists, arms dealers, drug traffickers, and notable recent hacker wallets.

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As OFAC sanctions lists and other global watchdogs continue to add addresses to sanctions lists, AML Oracle’s blacklist is growing by batches of 20 addresses per week. The ability of these malicious entities to operate is constantly limited as a result.

Freemium trial now over

AML Oracle’s freemium trial is over as user interest has become excessive since Oracle launched on the Ethereum Mainnet in May of this year.

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