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Blockchain analytics are the talk of Washington

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In warning against the use of crypto by Russian oligarchs to evade war sanctions, Senate Democrats led by Elizabeth Warren cited data tools familiar to Wall Street and Silicon Valley but still obscure in Washington circles.

The senators, in a letter to the Treasury Department, pointed to the work of Elliptic and Chainalysis, whose programs scour billions of blockchain accounts and transactions in a global hunt for illicit transactions and hidden assets.

Blockchain analytics are already well known in crypto circles and beyond. They make it possible to figure out the connections between billions of digital wallets that are otherwise only identified by a series of “meaningless” numbers, said Lance Morginn, president of Blockchain Intelligence Group, another leading blockchain analytics firm.

“If I don’t know that that address was on the dark web next to a Hamas terrorism donation address, it’s useless,” he told Protocol.

The Ukraine war is giving new urgency to the already brewing battle over crypto regulations. And it has turned the spotlight on blockchain analytics as a key…

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