Chainlink, a decentralized oracle network, has introduced a compliance framework designed to access over $100 trillion in institutional investor capital for cryptocurrencies. The Automated Compliance Engine (ACE), announced recently, offers a standardized approach to regulatory compliance for both traditional finance and decentralized finance (DeFi). This new framework facilitates the development of compliance-oriented digital assets and services across various blockchain networks, including features like reusable digital identities and automated policy enforcement. Currently in early access for select institutions, ACE aims to streamline compliance processes, which are often costly and fragmented in traditional finance. In 2023, compliance costs for financial crimes in the US and Canada exceeded $60 billion. Chainlink's framework integrates existing digital identity solutions and supports on-chain and off-chain policy enforcement, making digital asset deployment compliant and efficient. Co-founder Sergey Nazarov emphasized that using Chainlink's compliance standard will enhance the efficiency and cost-effectiveness of digital assets compared to traditional methods. Read more AI-generated news on: https://app.chaingpt.org/news

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