The blockchain intelligence and surveillance company Chainalysis revealed the launch of a new program that aims to help governments and insolvency practitioners sell seized cryptocurrencies. The news follows the recent U.S. government seizure of more than 69,000 BTC worth over $1 billion on November 3.
Blockchain surveillance firm Chainalysis announced the launch of a new program that caters to recovering, storing, and selling crypto assets that have been seized by law enforcement officials.
“[The] asset realization program [will] help government agencies and insolvency practitioners handle, store, realize, and monitor seized assets,” Chainalysis said on Thursday.
Chainalysis explained that when law enforcement is working with illicit cryptocurrency assets oftentimes the entity will need to not only seize the crypto, but also have to store them until legal forfeiture.
The company believes licensed professionals, insolvency practitioners, and governments worldwide will need a reliable program that…