In a joint statement, the participants said the alliance between analytics firm Chainalysis and Deloitte, one of the largest accounting firms, aims to address the challenges cryptocurrency companies, regulators, and law enforcement and financial institutions face as regulatory standards for the crypto ecosystem change.
The companies’ partnership will help better respond to the changing regulatory climate, identify unscrupulous industry players, and track the flow of funds to high-risk organizations.
“For law enforcement, regulators, and financial ecosystem players, the alliance offers new collaborative solutions to help identify transformation gaps, accelerate enterprise-wide mission fulfillment, and mitigate risk while increasing revenue,” said Chainalysis President and Chief Revenue Officer Thomas Stanley.
Together, Deloitte and Chainalysis will help mutual clients implement state-of-the-art forensic, investigative and compliance programs, the companies said in a joint statement.
Earlier, Chainalysis analysts reported that the amount of assets that cryptocurrency fraudsters were able to get their hands on in the first half of 2023 was down 65% from the same period in 2022.