Big four accounting firm Deloitte is set to enhance its clients’ blockchain tracking capacities through a new strategic partnership with Chainalysis, a leading name in the crypto analytics field.
This collaboration, announced at a Chainalysis conference in Washington D.C., leverages Chainalysis’ blockchain data sets, analytics software, and training programs to support Deloitte’s clientele with their requirements in the spheres of crypto forensics, investigation, and compliance.
Thomas Stanley, President and Chief Revenue Officer of Chainalysis, said the partnership is focused on shared clients, which include regulators, law enforcement agencies, and financial institutions.
The initial implementation will be in the United States, taking into account the stage of technology adoption by these agencies and institutions and the overlapping client base.
A document on the alliance that Deloitte shared reveals some of the challenges faced by government agencies, which include digital assets being used to obfuscate transactions and launder illicit proceeds. Moreover, challenges are presented by the international regulatory landscape that hinders the procurement of information from foreign exchanges.
The partnership with Chainalysis is touted to help tackle these hurdles, potentially aiding in the identification of actors involved in illicit activities, and tracing fund flow to high-risk or sanctioned entities.
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/jul/26/
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