IRS, Chainalysis to Hunt Russian Crypto Sanctions Evaders with Ukraine
Main page News, Russia, US, Ukraine, Crypto Market, Regulations

The IRS' Criminal Investigation unit (also known as IRS-CI) in cooperation with private sector is offering blockchain analysis and detective tools to Ukraine in an effort to block sanctioned Russian oligarchs from concealing their assets.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

In a press release on Thursday, the tax agency said it had donated licenses for Chainalysis Reactor to Ukrainian law enforcement officers. IRS-CI Chief, Jim Lee, said the move is expected not only to safeguard the US financial system, but the global economy as well.

"These trainings help participants can hone their digital investigative skills to trace the source of blockchain funds and unmask cryptocurrency transactions with cryptocurrency forensic tools," Lee added.

DOJ Probes Binance Over Russian Sanctions Violations: Report

Eduard Fedorov, acting director of the Economic Security Bureau of Ukraine, said it is important for the country to identify all Russian assets on the territory of Ukraine.

The tax agency also revealed it currently has over 20 ongoing sanctions-related investigations and is working with the Office of Foreign Assets Control to support sanctions designation investigations.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error