(This Aug 2 story has been corrected to rectify association name to LexisNexis Risk Solutions from LexisNexis)
By Jemima Kelly
LONDON A association that provides banks with anti-money-laundering controls has teamed adult with a bitcoin confidence organisation to try to quell sinful uses of a digital currency, such as drug trafficking and terrorism financing.
LexisNexis Risk Solutions pronounced a new use it has combined with London-based startup Elliptic would move bank-grade AML controls to bitcoin transactions, creation a practical banking some-more appealing to those who competence wish to use it for legitimate transactions
LexisNexis Risk Solutions, partial of multinational analytics organisation RELX Group (REL.L), helps banks approve with AML regulation, regulating a database of 2.7 million tellurian entities that could be concerned in unlawful transactions, such as those on sanctions and other watch-lists.
It has common that database with Elliptic, that monitors bitcoin exchange and can warning the clients – trimming from bitcoin exchanges to U.S. and European comprehension agencies – when income moves from bitcoin addresses that have been identified as bad actors.
“This is a step toward creation it (bitcoin)