CryptocurrencyExchanges & BrokersNews

Coinbase, Paxful, Gemini, Bitfinex Join Anti-Human Trafficking Cryptocurrency Consortium

Major cryptocurrency exchanges in the digital currency sector are collaborating with each other in a fight against human trafficking. The industry’s leading digital asset exchanges have joined the Anti-Human Trafficking Cryptocurrency Consortium (ATCC). These include the San Francisco-based cryptocurrency exchange Coinbase, the Bitcoin Peer-to-Peer (P2P) exchange Paxful, Winklevoss brothers-owned Gemini exchange, and the Hong Kong-based crypto exchange Bitfinex.

These leading digital currency exchanges have now become a part of this consortium shortly known as ATCC. Their task will be to monitor and track suspicious cryptocurrency transactions as well as detecting certain characteristics that are linked with human trafficking. The information and data provided by these exchanges will then be passed on to other members of the consortium such as law enforcement and intelligence companies. It will be helpful in combating illicit activities.

The Chief Compliance Officer (CCO) at the P2P Over-the-Counter (OTC) exchange Paxful Lana Schwartzman said that when it comes to tracking or monitoring cryptocurrency transactions digital currency exchanges can have an advantage in doing that because of the fact that cryptocurrencies are transparent in nature. She added:

📰 Also read:  Singapore Shocks Crypto Investors With New Regulations

“I hope that any potential bad actor gets the point that you cannot use crypto for human trafficking and other illicit activities. We know who you are, we see your transactions, and we will report you to authorities.”

While commenting on joining the consortium, Coinbase’s Senior Director of Global Intelligence John Kothanek said that the cryptocurrency exchange shows support to this consortium. Kothanek claimed that the exchange is already “involved with other groups whose objectives are identifying illicit flows of criminal money from not only human trafficking, but also ransomware, fentanyl sales, and money laundering.”

The non-profit consortium Anti-Human Trafficking Cryptocurrency Consortium was launched by the Anti-Human Trafficking Intelligence Initiative in the month of April this year. It aims at combating Human trafficking as well as CSAM, Child Sexual Abuse Material. Its main task is to bring together law enforcement, blockchain intelligence companies, and cryptocurrency exchanges. Moreover, it focuses on best practices, intelligence sharing, and tools development that may help in fighting against human trafficking.

📰 Also read:  Cardano Foundation CEO Says Upgrade Delays Due to Academic Approach

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Singapore Shocks Crypto Investors With New Regulations


Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Skip to content