Hacken’s Blockchain Security Auditor is launching a new software to automate compliance and security for web3 business as MiCA rules and DORA rules are looming.
Hacken is an international Blockchain auditor Ukrainian Roots is launching a solution to allow web3 companies to automate compliance with European standards. MiCA DORA.
Dyma Buorin, co-founder of Hacken and CEO at crypto.news said that the company developed a so-called “Hacken-style” blockchain. “Extractor” You can address your concerns to the “critical need for proactive monitoring and compliance in the crypto space.” According to the Tallinn-headquartered firm, Extractor brings compliance monitoring framework for web3 projects, making it easier to meet regulatory standards like MiCA, DORA, and ADGM.
Hacken’s solution is different from other market solutions because it combines monitoring AML/CFT, transaction analysis, value-locked total analysis and detection of circulating supplies into a structure compliance approach. The press release states that it also incorporates real-time threats detection, automated safeguards and post-incidence reporting in order to provide continuous protection and operational resilience.
Hacken’s lawyer Valentyna Kodratenko noted that starting Jan. 17, 2025 DORA requirements will be in place. “will become enforceable,” Addition to non-compliance “can result in severe penalties, such as fines of up to 2% of the total annual worldwide turnover or 1% of the average daily global turnover.”
This solution has been designed to be compatible with multiple networks of blockchains, such as Ethereum You can also find out more about the following: BNB Chain Binance Smart Chain (previously Binance Smart Chain) has a wider range of potential uses.
MiCA has created a number of challenges for cryptocurrency companies looking to expand on the European market. Crypto exchange Coinbase, for example. had to discontinue USDC reward for EU customers due to MiCA (and later on even). delisted TetherUSDT(European Platform)
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Source: crypto.news
