Notable blockchain and crypto investigation company A&D Forensics has joined the Crypto Market Integrity Coalition (CMIC). The company is the first African firm to join the CIMC, a prestigious global alliance that includes blockchain industry giants like Coinbase and Circle.
In a statement shared with Technext, the company noted that the move underscores its commitment to enhancing the integrity and security of the crypto and blockchain space within Africa and globally.
CMIC is an alliance that focuses on setting global standards for compliance and security in the crypto ecosystem. Established in 2022, the body strives to ensure that industry players uphold ethical practices while preventing fraud, market manipulation, and market abuse.
As part of this CIMC alliance, A&D Forensics will collaborate with leading global firms, including Coinbase, Circle, and Solidus Labs. The released statement states that together, they will address critical issues such as financial crime, fraud, and security breaches.
A&D Forensics’ entry to CMIC
According to the statement received by Technext, A&D Forensics was officially onboarded into CMIC on October 3, 2024, in an inauguration ceremony held virtually.
In a move expected to be a turning point for Africa’s burgeoning crypto market, A&D Forensics aims to contribute its expertise in crypto investigations, anti-money laundering (AML) compliance, and cybersecurity to promote safety and transparency in crypto markets across Africa and beyond.
In recent times, the company has worked with governments, law enforcement agencies, financial institutions, and private sector companies across Africa in the crypto compliance space. The company specialises in investigating crypto fraud, blockchain forensics, AML compliance, and mitigating risks associated with financial crimes in the virtual asset sector.
Importantly, A&D Forensics’ participation in CMIC is expected to have a transformative impact on Africa’s crypto space, opening doors for more collaboration, growth, and innovation in the region.
The statement reads:
“As we align with global leaders, our commitment to improving market transparency and preventing financial crime will only strengthen the cryptocurrency ecosystem both in Africa and globally. By aligning with these prominent players, A&D Forensics reinforces its leadership position in Africa and contributes to shaping a safer future for cryptocurrency users worldwide.”
Co-founder and Senior Partner at A&D Forensics, Adedeji Owonibi said becoming the first African firm to join CMIC is not just a proud moment for A&D Forensics, but also for Africa’s entire crypto ecosystem.
“It reflects our commitment to maintaining the highest standards of integrity in the digital asset space and emphasizes Africa’s growing role in the global cryptocurrency market.” He concluded.
