Atlanta-based technology company has launched a new product in private beta version for medium businesses, such as bitcoin ATMs and exchanges. Testers of Coinnections' platform will get a free hour of consulting on anti-money laundering.

Coinnections offers a solution for businesses to manage, automate and enforce their AML regulatory compliance policies. The new platform includes transaction monitoring and case managements, as well as suspicious activity reports filing. The firm is founded by Aaron Williams who engaged in the delivery of the first Lamassu bitcoin ATM in 2013.

“Coinnections is more than an AML compliance platform. We’ve put a lot of focus on auditing and change management as well. Auditing in the MSB space tends to be very resource intensive so we architected our systems to take as much legwork out of the audit process as possible,” Williams said.

Anti-money laundering remains one of the strongest regulatory requirements in the digital currency industry. EU regulatory documents still do not pay enough attention to cryptocurrencies. Although they include the notion of “anonymous e-money instruments”, it still can not be considered as a referral to cryptocurrencies, since the latter are not e-money in EU’s vocabulary.


Sonya Belova