Coinfirm and CoinClash Join Forces to bring AML Compliance to Crypto Gaming
Coinfirm, the leading blockchain analytics and RegTech provider, is announcing a collaboration with the crypto-native game platform CoinClash.
By leveraging Coinfirm’s on-chain AML/CFT infrastructure, CoinClash can combat money laundering and the financing of terrorism, keeping in compliance with the AML guidelines of the Financial Action Task Force (FATF), and other supranational and national regulations.
Players on the CoinClash games platform choose a skill-based game they want to play against other players in an innovative entertainment p2e (play-to-earn) offering to players.
“This collaboration comes at a great time for CoinClash. With the market for gaming consistently adapting in this age of digital transformation, we are extremely excited to be a part of that change. That does, however, come with its challenges. With the help of Coinfirm, we can combat financial dishonesty, so that all our players can get a pure and more transparent gaming experience.” Piotr Blazewicz Co-founder of Microclash Ltd - the company behind CoinClash Games.
Traditional, non-blockchain-based gaming models have been used as a means of money laundering. With the p2e blockchain ecosystem rapidly gaining momentum, it is imperative that platforms like CoinClash, bake in a deep level of transparency and compliance.
“We have seen bad actors turning to p2e models to clean illicit funds. Leveraging the use of Coinfirm’s AML Platform adds an important layer of transparency and compliance to the CoinClash platform, giving users and counterparties more confidence in CoinClash by providing the gaming platform with actionable intelligence.” - Dr. Mircea Mihaescu, CEO of Coinfirm
One of the major stumbling blocks in the mass adoption of crypto-assets is regulatory compliance. Whether that is keeping in line with widely-implemented regulatory guidelines like the FATF’s Travel Rule or gearing up towards complying with comprehensive laws that are projected to come into force, such as MiCA – VASPs, protocols and blockchain-based projects are being required to be able to adhere to a high standard of AML/CFT and related compliance analytics to continue to operate in the new digital economy.
As a provider of anti-money laundering and risk analytics data for blockchain to major companies and protocols in the industry, Coinfirm’s AML solution consists of a risk score for 350+ compliance indicator checks, blacklisted blockchain address checks, high-risk transaction pattern warnings, and more across the widest crypto asset and coin coverage on the market.
