Chainalysis will start tracking ten more ERC-20 tokens

Analyst Chainalysis has expanded the number of supported ERC20 tokens in its anti-money laundering solution.

In total, 10 tokens were added, including Maker, Dai, 0x, OmiseGo, Basic Attention Token and others. In the future, Chainalysis plans to provide its customers with opportunities to work with assets that are not yet available in the service. For three months, the company has been supporting transaction tracking XRP, DOGE, ETC and partially anonymous coins, including Dash and Zcash (only open transactions with T-addresses).

Jonathan Levin, Chainalysis co-founder and strategy director, noted that the addition of new tools was related to the needs of market participants, who need to ensure that their policies comply with the new regulatory requirements. It is extremely important for them to track the transactions of ERC20 tokens.

“Obviously, there are many people on the market who want to tokenize and sell various assets, but at the same time, a huge number of hacks and other frauds require tracking transactions of most ERC-20 tokens,” Levin said.

According to him, now there are more than 200,000 ERC-20 tokens on the market and many of them have their own community and areas of application.

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In April, Chainalysis implemented monitoring of BNB, GUSD, USDT, USDC, PAX and TUSD. By the end of the year, it is planned to expand the number of monitored ERC20 tokens to 39.

“The creation of stablecoins of the ERC20 standard, which are tied to various financial assets, is a kind of bridge between the blockchain industry and traditional financial markets. Their development is crucial for the industry, ”said Doron Rosenblum, managing director of the eToro platform. “Chainalysis was able to quickly adapt and provide us with legal compliance technology.” It is necessary for the safe and responsible implementation of the plans. ”

In July, Chainalysis analysts said that 2019 could be a record year for payments in bitcoin on the darknet.