BSV Blockchain and Global Ledger recently announced a new partnership to bring full support and anti-money laundering (AML) solutions to the BSV blockchain and community.
As a new service provider, Global Ledger will provide the tools and on-chain analytics to ensure the security and compliant growth of BSV blockchain projects and ventures. The collaboration will also focus on enhancing blockchain security, compliance, and project growth for the BSV ecosystem.
However, the partnership will also have other benefits – including a boost for BSV Blockchain’s Digital Asset Recovery and Network Access Rules initiatives. Paul Densley (Head of Sales at Global Ledger) and Connor Murray (BSV Blockchain, Director of Stewardship) recently sat down with Gavin Mehl to discuss this and other aspects of the partnership.
Densley began the conversation by noting that the blockchain sector has been through a lot of peaks and valleys over the last decade but is now reaching a point where the industry has matured and needs true rules and regulations.
‘From a regulatory and compliance standpoint, this (partnership) does open up the doors for the adoption and strengthening of the relationships with Virtual Asset Service Providers (VASPs) and exchanges. Where BSV is listed,’ he said.
‘It will also help projects to thrive and grow from a licensing perspective as well because there are a lot of obligations on both sides of the water – from the US and the European side. Where these solutions are needed for financial regulators and for projects and companies to operate on the market.’
Densely said this partnership will also help shed light on the industry standards for the BSV ecosystem and help with the scaling of adoption. ‘It gives a platform compared to other chains when dealing with that side of the industry from a regulatory perspective,’ he said.
He noted that the two groups are in a position to collaborate on developing compliance standards and best practices for the BSV ecosystem. This will not only enhance security but also foster trust and legitimacy, he said.
A key part of this is Teranode, BSV blockchain’s scaling solution, which presents unique opportunities to develop innovative compliance tools that can handle massive transaction volumes and complex data analysis, he said. This collaboration can lead to groundbreaking advancements in blockchain analytics.
He adds that both organisations can work together to educate regulators, businesses, and the public about the benefits of BSV and the importance of robust compliance frameworks.
The importance of regulatory partners for Digital Asset Recovery
These thoughts were echoed by Murray who noted that it was important for BSV Blockchain to have regulatory partners like Global Ledger for exchange adoption and growing out the ecosystem. ‘A company like Global Ledger is really important as we can then onboard exchanges and allow our wallets and our ecosystem users to take advantage of the system if they need to do their own AML checks,’ he said.
This extends to Digital Asset Recovery, he said. Without effective mechanisms for the recovery of lost or stolen digital assets, the enforcement of property rights will remain elusive. Part of the BSV Blockchain’s stewardship delivers on the concept of Digital Asset Recovery, a protocol that aligns blockchain technology with existing legal frameworks for asset protection.
This initiative enables the recovery or freezing of digital assets in cases of loss, theft, or if they require ownership or transfer. This is essential in establishing a regulatory-compliant network and framework for digital assets, as well as for enforcement and compliance with existing property laws.
