CipherTrace’s Crypto Risk Intelligence To Help Track Illicit Crypto Transactions

On 16 December, CipherTrace noted that major banks could be processing a maximum of 2 billion dollars in crypto-related transfers in its press release. However, these yearly earnings are never detected. CipherTrace is a blockchain intelligence company, and according to it, about ten major commercial banks in the US have unregistered crypto businesses; that use their payment networks in processing funds. The press release also pointed out that these unregistered crypto money service businesses (MSBs) are entities like cryptocurrency exchanges.…