Cryptocurrency community TemTum is partnering with identity verification service Shufti Guru to provide Anti-Money Laundering (AML) and Know Your Customer (KYC) screening services for the clients.

Included in the partnership announced on April 7, Shufti Guru will verify TemTum customers’ KYC data, including date of birth, addresses, titles, document numbers, record issue dates, and expiration dates.

According to the announcement, TemTum saw the need to associate with Shufti Pro to live by the new 5AMLD regulations.

Speaking with Cointelegraph, TemTum chairman David Shimmon stated that the primary motives for the arrangement using Shufti Pro are becoming KYC/AML screening processes and differentiating themselves from other crypto firms” that were seen as malicious”:

Victor Fredung, Shufti Guru’s CEO, praised the announcement, who also highlighted how”truly innovative” that the blockchain system TemTum is.

KYC/AML anonymous and screening nature of crypto trades

Regarding the steps on KYC/AML screening, Shimmon considers there is no conflict regarding the anonymous nature of cryptocurrencies transactions, as he believes it essential to continue guaranteeing transparency and being a valid complaint. He included the following:

The crypto world has witnessed similar partnerships recently. Cointelegraph reported on March 23 the peer-to-peer exchange Paxful reached an agreement with the blockchain analysis outfit Chainalysis to monitor trades and fight any illegal behavior.

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