Bitcoin Daily: Blockchain Partnership Focused On EU Shipping; CipherTrace’s Mobile Tool Flags Suspect Crypto Tokens

Two firms are teaming up to create a blockchain solution for the European shipping market.

VAKT, a specialist in commodity post-trade processing via blockchain, revealed that it has signed a memorandum of understanding with essDOCS, a provider of paperless trade solutions, according to Coin Telegraph. The blockchain solution will initially focus on tanker barge markets in northwestern Europe, but the partners also are exploring global options.

“While our initial focus is the northwest Europe tank barge market, where combined we have a critical mass of customers and an unrivaled digital post-trade offering, we are also exploring additional global markets where eDocs are key to full digitization,” said essDOCS CEO Alexander Goulandris in a press release.

In other news, Korea exchange Upbit has delisted several privacy coins due to new regulatory requirements from the Financial Action Task Force (FATF), according to CoinDesk.

The exchange announced that transaction support for monero (XMR), dash (DASH), zcash (ZEC), haven (XHV), bittube (TUBE) and PIVX (PIVX) will end on Sept. 30.

“There are also crypto-assets that can selectively utilize anonymity features among projects that are subject to end of transaction support,” the company wrote in a blog post, according to CoinDesk. “For these crypto-asset, Upbit has only supported transparent withdrawal/deposit support. Nevertheless, the decision to end trading support for the crypto-asset was also made to block the possibility of money laundering and inflow from external networks. Upbit will continue to consider crypto-asset that represent anonymity functions as candidates for designation of investment warning crypto-asset.”

And blockchain forensics firm CipherTrace has launched a new mobile tool that can flag suspicious bitcoin and ethereum tokens, according to CoinDesk.

CipherTrace Scout allows investigators to identify, track and document illicit crypto transactions from the field. Users simply input an address and CipherTrace Scout generates an instant report.

“You can imagine some beat cop in a high risk area, literally finding something that appears to be tainted,” said Julio Barragan, a financial crime and compliance analyst at CipherTrace. “He can share a case with an analyst at headquarters and that analyst could do the tracing very quickly to determine where the source of the funds were.”