Ethereum Classic Labs, the unit behind the Asset Ethereum Classic (ETC) and the blockchain analysis team Chain analysis United forces.
In addition to working on ETC-related technologies ETC Labs also runs an acceleration section to help and support startups in the crypto industry.. Thanks to an alliance with Chainalysis, These startups receive a discount on the company’s Know Your Transaction (KYT) technology and training certification platform, Details of a September 9 statement from ETC Labs. In addition, ETC Labs companies may receive regulatory guidance from the Chainalysis team.
Regulatory requirements have become a growing problem in the cryptocurrency and blockchain space. when several nations increased their oversight in recent years. Chainlysis KYT technology essentially helps companies with this Control your blockchain technology related activitiesPartly for compliance with legal regulations with simultaneous automation of processes is explained in the declaration.
“This partnership reflects a required resource and is a natural evolution for our ETC-based companies. Create a level playing field for start-ups in the early phase in order to build up their businesses successfully and responsibly and at the same time to stay informed “noted the founder of ETC Labs, James wherein the statement. The CRO of Chain Analysis, Jason bindsalso mentioned the importance and complexity of crypto compliance.
ETC has faced a number of issues over the past few weeks that may demonstrate the value of blockchain data and tracking. The network has suffered three 51% attacks since late July.
Cointelegraph reached out to ETC Labs for more information. However, at the time of this writing, he received no response. This article will be updated when a response is received.