Marathon Announces Plans for an OFAC-Compliant Mining Pool

Compliant Mining

Marathon, a Bitcoin mining corporation based in the U.S., announced that it would be creating a mining pool which would be totally compliant with U.S. financial regulations. The press release opened with the following:

Marathon Digital Holdings, Inc. […], today announced that the Company will be launching the first Bitcoin mining pool based in North America that is fully compliant with U.S. regulations, including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards.

The press release went on to mention that Marathon had “exclusively licensed” software from DMG Blockchain Solutions Inc. in order to properly filter transactions (this was also announced in a separate press release issued by DMG Blockchain Solutions):

To set up its pool, Marathon has exclusively licensed technology from DMG Blockchain that allows the Company to filter transactions. Marathon intends to leverage this technology to ensure that its mining pool adheres to AML regulations and that all transactions are compliant with OFAC’s standards.

The pool mined its first “compliant” block about a month later on May 6.

  Sources:

  1. ir.marathondh.com/news-events/press-releases/detail/1233/correction-marathon-digital-holdings-to-launch-the-first
  2. globenewswire.com/news-release/2021/03/31/2202491/0/en/DMG-Blockchain-Solutions-and-Marathon-Digital-Holdings-enter-into-Definitive-Software-and-Technology-Agreement-for-the-DCMNA-Pool.html
  3. cointelegraph.com/news/the-blacklist-marathon-only-mining-fully-compliant-bitcoin-transactions

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