Wyoming Bank Regulator Taps Chainalysis to Boost Crypto Tracing Efforts

[Galaxy]

Wyoming’s chief banking regulator has turned to Chainalysis for “beefing up” his division’s monitoring capabilities of illicit cryptocurrency activities.

Under a one-year deal disclosed to CoinDesk Thursday, Chainalysis will train senior examiners on crypto tracing practices and grant two monitoring software licenses – plus investigatory support – to the Division of Banking as it eases into its new, crypto-facing compliance duties, according to Commissioner Albert Forkner.

Unveiled just one day after Wyoming awarded its first special purpose depository institution (SPDI) bank charter to Kraken, the novel partnership, among the earliest pair-ups featuring a U.S. banking regulator and a blockchain intelligence firm, illustrates how even America’s fast-moving financial watchdogs are cautiously approaching oversight of an asset class that Forkner said still gives some folks the spooks.
Info link: https://www.coindesk.com/wyoming-chainalysis