Chainalysis, a blockchain analysis company, has launched a new program in a partnership with Asset Reality focused on helping government agencies to handle, store, realize, and monitor seized assets. The company says that law enforcement are in need for a custodian where seized digital currencies could be stored until they are legally forfeited.
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As law enforcement become more sophisticated in investigating illegal activity with cryptocurrencies, the need for cryptocurrency realization services is growing, says Chainalysis.
Chainalysis Chief Revenue Officer, Jason Bonds, believes that crypto adoption will either be used by good and bad actors.
"As our government partners become more successful in rooting out bad actors, assisting them with asset recovery and realization is a natural next step," Bonds highlighted.
Chainalysis adds that Asset Reality's team will provide strategic advisory services and training regarding cryptocurrency and other complex assets to law enforcement.
As iHodl earlier reported, the US Department of Justice (DOJ) filed a complaint to forfeit 69,370 bitcoin (EXANTE: BTC), bitcoin gold (BTG), bitcoin SV (BSV) and bitcoin cash (BCH) from an individual who allegedly moved the cryptocurrency from Silk Road, an online black market and the first modern darknet market.
The DOJ hopes to lock the funds with the help of the court of the Northern District of California.
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