Deloitte, a global professional services firm, has formed a strategic alliance with Chainalysis, a crypto analytics company, to enhance its clients’ capabilities in blockchain tracking.
The collaboration, announced during a Chainalysis conference in Washington DC on July 25, aims to provide Deloitte’s customers, including law enforcement agencies, regulators, and financial institutions, with blockchain datasets, analytics software, and training programs for their crypto forensic, investigative, and compliance needs.
The relationship will debut in the United States before being rolled out to other countries across the world. Deloitte recognises the difficulties law enforcement has when dealing with cryptocurrencies that are used to launder money or conceal illegal activity. In addition, getting data from outside markets is complicated by the worldwide regulatory environment.
Deloitte hopes to successfully prosecute those responsible for crypto-related crimes by using the knowledge and experience of Chainalysis. Among these include enhancing their expertise in anti-money laundering (AML), know-your-customer (KYC) processes, and regulatory compliance, and tracking the movement of money to high-risk or sanctioned organisations.
Recent job postings by Deloitte show the company’s dedication to the cryptocurrency industry, with 97 of the opportunities being located in the United States. In addition, Deloitte’s prior relationship with Web3 platform Vatom was also an effort to deliver immersive experiences utilising VR for different sectors of the economy.
Deloitte is responding to the rising demand in the nascent cryptocurrency sector by taking a proactive approach to incorporating blockchain and digital assets into its service offerings. This partnership will help customers and the whole cryptocurrency industry thanks to Deloitte’s wide network and Chainalysis’s experience in blockchain technology.
