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Learn more about how MarketGuard AML compliance software can assist a European VASP and CASP with blockchain transaction monitoring and Travel Rule

Crypto compliance solutions for a European VASP/Crypto compliance solutions / Crypto compliance software in Europe / Crypto AML solution for European VASPs

Crypto compliance solutions for a European VASP are software solutions designed to specifically address regulatory compliance requirements in the European Union (EU). In the EU, virtual asset activities are regulated by the Markets in Crypto-Assets Regulation (MiCA), which imposes strict requirements on VASPs. These solutions play a crucial role in helping VASPs operate safely and transparently while adhering to regulatory standards.

Examples of crypto compliance solutions for European VASPs include:

  1. Onboarding solutions are software tools that automate and streamline the process of onboarding new clients for VASPs. These solutions typically use advanced technologies such as biometric verification and machine learning to enhance the accuracy and efficiency of the onboarding process.
  2. AML transaction monitoring solutions - this software is designed to perform AML and KYC checks on clients and transactions, including identity verification, sanction screening, and PEP (politically exposed person) checks.
  3. Blockchain transaction monitoring solutions - this software uses advanced algorithms to analyze blockchain transactions and identify suspicious activity, such as money laundering or terrorist financing. It works in real-time and uses risk-based algorithms to detect suspicious activity, such as large or unusual transactions, or those involving high-risk countries or entities.
  4. Regulatory reporting solution - this software automates the reporting process for VASPs, allowing them to generate regulatory reports and submit them to the relevant authorities in a timely and accurate manner.

Overall, crypto compliance solutions for European VASPs are essential to ensure compliance with EU regulations and maintain the integrity of the virtual asset ecosystem.