Cryptocurrency compliance startup Chainalysis has launched a new real-time alert feature for its “Chainalysis KYT” solution, the firm announced Thursday. According to Chainalysis, its real-time alerts “are designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by helping compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources.”
The alerts are available for all 15 cryptocurrencies supported by Chainalysis including bitcoin, ether, bitcoin cash and stablecoins like DAI and tether. Chainalysis customers can also customize their alerts, adjusting risk parameters that meet their needs.
“As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices,” said John Dempsey, VP Product at Chainalysis. “Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.”