Deloitte announced to establish strategic alliance with crypto analytics firm Chainalysis in order to boost its clients’ blockchain-tracking capabilities.
Announced during a Chainalysis conference in Washington DC on July 25, the tie-up will see Chainalysis’ blockchain datasets, analytics software and training programs assist Deloitte’s clients with their crypto forensic, investigative and compliance needs.
In a document outlining the alliance, Deloitte said some of the challenges faced by government agencies include when cryptocurrencies are used to obfuscate transactions and launder the proceeds of crime, while the international regulatory landscape creates difficulty obtaining information from foreign exchanges.
Deloitte said the partnership with Chainalysis could help “identify the actors behind the keyboard and effectively prosecute them,” including tracing the flow of funds to high-risk or sanctioned entities.