Analytical blockchain-startup Chainalysis reported that starting today, the proposed transaction tracking tool Chainalysis KYT (Know Your Transaction) supports four additional coins. Their number includes the internal token of the Binance BNB exchange, as well as the Gemini Dollar (GUSD), Tether (USDT) and USD Coin (USDC) steinkloins.
Starting today Chainalysis is cryptocurrency agnostic. Monitor transactions in Bitcoin, Ether, Bitcoin Cash, Litecoin, and Tether. Read more https://t.co/CxpI8ge9bg #cryptocurrency #beyondbitcoin
– Chainalysis (@chainalysis) April 24, 2019
Thus, the anti-money laundering software Chainalysis supports 10 cryptocurrency assets. Prior to this, Chainalysis KYT Inc. allowed to track Bitcoin transactions, Ethereum, Bitcoin Cash, Litecoin, TrueUSD and Paxos Standard.
As CoinDesk notes, support for new assets has been added pending the publication of new guidelines for the Financial Action Task Force on Money Laundering (FATF).
“Chainalysis is ready to provide businesses with tools for automatic monitoring of transactions not only of Bitcoin, but also of other cryptocurrencies. We expect that multi-currency support will help FATF form its recommendations for this sector and reject technically unrealizable decisions in favor of more pragmatic recommendations, ” said Jonathan Levin, Operations Director of Chainalysis.
According to him, Chainalysis recently upgraded its technology, making it more scalable. Thanks to this, in the future it will be easier for it to add support for other new assets.
Earlier this month, Chainalysis in an open letter urged FATF to refrain from over-tightening the regulation of the cryptocurrency industry, since the measures proposed by the organization could lead to a massive closure of exchanges and other infrastructure services.
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