According to crypto media The Block, blockchain analytics startup Elliptic has built a solution called 'Discovery' to help banks decide which cryptocurrency exchanges they can partner with. This solution contains various data and insights on 200 global cryptocurrency exchanges. Tom Robinson, co-founder and chief scientist of Elliptic, explained, "Currently, most banks cannot distinguish whether a cryptocurrency exchange is regulatory compliant or carries money laundering or sanctions risks," adding that Discovery can help with this. The media also explained that most banks are currently hesitant to provide services to cryptocurrency businesses due to regulatory risks, and the total assets of U.S.-based banks providing services to cryptocurrency businesses are less than $70 billion (about 3% of JPMorgan's).
