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Consequently, Bitcoin and other cryptocurrency exchanges must comply with registration, reporting and recordkeeping requirements. In response, Strevus recently extended its existing institutional-level compliance lifecycle management technology to support Bitcoin and other cryptocurrencies.
In addition to providing enterprise-quality regulatory coverage, scalability and security for KYC and AML, the solution provides a convenient mechanism to share compliance information and notify the relevant counterparties about any important change in their compliance status. The penalties for compliance violations are stiff. Allegedly, the CEO sold Bitcoin currency to an underground website that allowed people to anonymously buy and sell illegal drugs.
In addition to money laundering, he was also charged with failing to file any suspicious activity report regarding illegal transactions, which the Department of Justice said is in violation of the Bank Secrecy Act.
Strevus, recognizing this need, is providing a solution for the initial onboarding and KYC checks as well as ongoing due diligence. Our solution follows industry best practices and cuts the time to onboard new customers while dramatically reducing costs. Atlas is dedicated to providing a secure, state-of-the-art trading platform for digital currency. Atlas is driven to be an industry leader in operating a digital currency marketplace and providing innovative products and services for the benefit of the global trading community.
The company believes that competition from technology-driven markets increases overall volumes and improves performance, providing benefits to all participants. Atlas ATS is part of the Perseus secure, low-latency network. For more information on Atlas, visit http: Founded in , Strevus, Inc. Strevus helps institutions gather critical information to adhere to global financial regulations and remain compliant while growing their business by enhancing both client and business relationships.
For further information, visit http: Chris McCoin, chris mccoinsmith. Atlas ATS is the first trading exchange to deploy the Strevus compliance solution to its exchange members. June 24, About Strevus Founded in , Strevus, Inc. Release Summary Atlas ATS is the first trading exchange to deploy the Strevus compliance solution to its exchange members.
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