Blockchain-data analytics company Chainalysis has announced an accelerated launch of two sanctions screening tools, an on-chain oracle, and an API, to help provide greater regulatory oversight to exchanges and DeFi projects.
Blockchain-data analysis firm Chainalysis has announced the fast-tracked launch of two primary ‘sanctions screening’ tools that it will provide free of charge to the cryptocurrency industry. According to the report provided by Chainalysis on March 10, the screening tools include two main components of new tracking software that will assist exchanges in screening wallets and transactions for activity that appears to be skirting economic sanctions. The first tool, which is immediately available, is an on-chain oracle. An on-chain oracle is a smart contract aimed more specifically at DeFi (decentralized finance) projects. It validates whether or not a cryptocurrency wallet address has been included in
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