NOWPayments teams up with BlockSec to release Cryptocurrency Payment Security Compliance Checklist, covering 25 security control measures

July 27th, Cryptocurrency payment gateway service provider NOWPayments and blockchain security company BlockSec jointly released the "Crypto Payment System Security and Technical Compliance Checklist," aiming to help businesses enhance the security of their cryptocurrency payment systems.

The checklist includes 9 major security and compliance categories, with a total of 25 control measures covering areas such as private key and wallet security, smart contract security, transaction verification and signing, identity and account management, domain security, on-chain monitoring and incident response, AML/CFT technical compliance, stablecoin freezing risk management, and continuous improvement.

NOWPayments stated that the main risks faced by cryptocurrency payment systems include private key exposure, suspicious transactions, account takeover, and stablecoin freezing. Due to the irreversibility of on-chain transactions, businesses need to establish more robust wallet management, transaction approval, and compliance monitoring mechanisms.

BlockSec co-founder Andy Zhou said that many companies mistakenly view cryptocurrency payments as traditional online payments, and once on-chain transactions occur, they are irreversible. Weak key management, unauthorized transaction approval, and inadequate compliance checks can lead to permanent loss of funds.

The checklist supports businesses in pre-deployment of cryptocurrency payments, vendor assessment, and daily security reviews, helping security, operations, compliance, and product teams collectively identify risks and clarify responsibilities.

Currently, NOWPayments supports over 350 cryptocurrencies and 30+ stablecoins, providing cryptocurrency payment, automatic conversion, and settlement services to merchants, online platforms, and businesses. BlockSec offers smart contract audits, real-time security monitoring, attack defense, and on-chain investigations as part of its blockchain security services.