The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) wants Chainalysis software for „mission-critical research.”
A new public notice dated May 26 outlines OFAC’s intent to subscribe to the Chainalysis platform for its purposes. OFAC wants to use an online application for blockchain tracing „to equip investigators in its Office of Global Targeting (OGT) to analyze and track virtual currency transactions.” It plans to use this information to identify parties that may be put on the Specially Designated National and Blocked Persons List as part of its cyber sanctions efforts.
OFAC first put out a call for blockchain analytics tools earlier this month, when it called for the specific features Chainalysis provides: address clustering capabilities, wallet explorer tool, transaction flow mapping and analysis of user behavior and market data.
„Moreover, Chainalysis’ use by key industry, U.S. Government, and foreign partners necessitates OFAC’s use of the same tool t
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