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Deloitte Partners with Chainalysis to Boost Blockchain Tracking and Compliance Solutions

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Marthon Guanzon reporter

Thu, 27 Jul 2023, 06:42 am UTC

Deloitte partners with crypto analytics firm Chainalysis to enhance blockchain tracking, aiding in crypto investigation, compliance, and law enforcement.

Global professional services giant Deloitte has made a groundbreaking move by teaming up with Chainalysis, a pioneering cryptocurrency analytics firm. This strategic partnership aims to enhance Deloitte's capabilities in blockchain tracking, forensic investigation, and compliance within the ever-expanding world of cryptocurrency finance.

The collaboration, announced during a Chainalysis event in the U.S. capital, presents an exciting development for organizations looking to leverage blockchain technology. Deloitte's clients can now benefit from Chainalysis' superior datasets, advanced analytics software, and specialized training programs, opening new possibilities for crypto investigation and compliance.

According to Chainalysis' executive team, this partnership has been long in the making, with Thomas Stanley, the firm's president and chief revenue officer, expressing enthusiasm for the alliance's advantages. The joint venture is particularly beneficial for shared clientele, including law enforcement, financial institutions, and regulatory bodies.

Initially focusing on the U.S. market, both companies have plans to expand their collaboration globally, expecting international markets to follow the U.S.'s lead in embracing this innovative approach.

The strategic partnership addresses some major challenges faced by law enforcement and regulators in the cryptocurrency space. Cryptocurrencies have been used to obscure transactions and launder illicit funds, posing unique hurdles for authorities. Additionally, navigating global regulations and retrieving data from overseas exchanges can be complicated. This new alliance equips agencies with the necessary tools to identify perpetrators and track funds flowing to high-risk or sanctioned entities.

Deloitte's recent addition of over 300 crypto-related positions highlights the firm's commitment to embracing the digital age. As part of the world-renowned "Big Four" accounting entities, Deloitte's partnership with Chainalysis signifies its dedication to staying at the forefront of technological advancements. This collaboration comes shortly after Deloitte's partnership with Web3 platform Vatom, focused on creating immersive experiences across various industries.

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