Chainalysis collaborates with Europol

Chainalysis announced it is collaborating with Europol’s European Cybercrime Center.

“This new collaboration is an important next step in the endeavor to move digital currencies out of the hands of the criminals and into the hands of consumers and blooming commerce,” said Michael Gronager, chief executive of Chainalysis.

The agreement, in the form of a memorandum of understanding, comes as digital currencies such as bitcoin are becoming more popular and potential rivals to established online payment mechanisms but are also a target for criminals to commit fraud and extortion.

Chainalysis is a New York City-based startup specializing in countering money laundering and fraud in the digital currency industry.