“As regulatory expectations increase and technologies become more complex, effective compliance and legal measures will be critical to maintain financial integrity while also preserving legitimate access for the ecosystem, said Andrew Fierman, head of national security intelligence at Chainalysis.
Sanctions-related cryptocurrency activity hit new highs in 2024, with sanctioned jurisdictions and entities receiving a record share of illicit funds, increasing the need for a robust legal and compliance framework to ensure the most effective path forward, Chainalysis said in a report Wednesday.
Andrew Fierman, head of national security intelligence at Chainalysis, said as sanctioned nations and entities explore alternative financial channels in the ever-changing web3 landscape, the private sector needs to take a risk-based approach ensuring regulatory compliance while supporting their business growth.
