NAC Foundation’s original digital currency, the AtenCoin, had anti-money laundering, anti-terrorism and theft resistant properties. This was made possible through an agreement with Global Vision Systems in January 2015. Because of third party identity verification issues, the AtenCoin project was put on hold in 2016 to make sure the project was a success.
About NAC Foundation, LLC
NAC Foundation, LLC CEO Marcus Andrade had a vision of using digital identities where people’s AML/KYC data were uploaded by trusted parties and the client controlled his/her own data. Mr. Andrade spent years trying to get this digital identity platform up and running. After the platform was originally near completion, Mr. Andrade felt that it was time to relaunch the AtenCoin. After hearing a lot of negative feedback on the name AtenCoin from a marketing and descriptive point of view, the AtenCoin was rebranded to AML BitCoin.
AML BitCoin will have anti-money laundering, anti- terrorism and theft resistant properties built into the code of the coin and will be compliant with a host of laws. We are striving to be compliant with AML, CFT, AFF, OFAC, BSA, USA Patriot Act, FACT Act and others.
For more information, please view our White Paper.
Upon completion and activation of the AML BitCoin, AML BitCoin Token holders will have the opportunity to exchange them for AML BitCoins. In making this exchange the token holder will have to create a certified digital identity profile.
What is AML BitCoin?
AML BitCoin is being designed by the NAC Foundation. Based on how blockchain technology has evolved in the last few years, the AML BitCoin team was not able to utilize all of the AtenCoin source code is having to rebuild. The cryptocurrency will have built in KYC/AML, anti-theft and anti-criminal features, as well as biometric identification built into the platform. This will enable it to be used by companies and individuals transacting with State, Semi- State, Regulated and Unregulated bodies.
All AML BitCoin transactions will be transparent and recorded on a public ledger, and the senders and receivers will be pseudonymous to the public. The transaction validation will be decentralized. Every AML BitCoin holder will be able to join this process through PoW/PoS mining.
Who can use AML BitCoin?
The AML BitCoin Token can be purchased by token purchasers around the world. For those looking at using AML BitCoin for transactions, a series of KYC/AML and real-life verification will be required. Once completed, all verified network users can transact with each other knowing counterparties are not on Sanctions Lists. AML BitCoin will be the only cryptocurrency that is compliant with the U.S. Patriot Act, Bank Secrecy Act, Anti-Money Laundering and U.S. Office of Foreign Assets Control law as well as other worldwide standards.