Chainalysis launches Crypto Crime Intelligence Briefs
Chainalysis launches a Crypto Crime Intelligence service to help law enforcement track illicit cryptocurrency funds.
On May 4, 2020, Chainalysis launches Crypto Crime Intelligence Briefs.
The launch reflected the growing sophistication of both cryptocurrency-related crime and the tools developed to combat it. For the Bitcoin community, blockchain analytics represented a double-edged development. On one hand, effective law enforcement tools helped address the perception that Bitcoin was primarily used for criminal activity—a narrative that had damaged cryptocurrency's reputation and provided ammunition for opponents arguing it should be banned or heavily restricted.
When Chainalysis and similar companies helped authorities successfully prosecute criminals using Bitcoin, it demonstrated that the transparent blockchain actually made certain crimes easier to solve than equivalent crimes using cash or traditional financial systems. This could help Bitcoin gain regulatory acceptance and mainstream adoption.