📣 AI Set to Become a Crucial Tool in Combating Crypto Crimes
posted 20 Sept 2024
Chainalysis CEO Michael Gronager predicts that within the next five years, governments will increasingly leverage AI to uncover financial crimes on the blockchain, including tax evasion. This initiative is expected to be coordinated rather than fragmanted across various agencies.
Сrypto would more or less be the only way you would want to solve crime, because it’s far more scalable, it’s far easier, it’s very transparent, you can do it internationally, and you can see a lot more insights,Michael stated.
He also mentioned that while many crypto tax evaders might currently evade punishment, this will become increasingly difficult as legislation advances and digital asset tax specialists become more prominent. Additionally, tax authorities have already begun integrating AI into their operations.
Gronager noted that although crypto mixers and privacy-focused cryptocurrencies like Zcash and Monero do enhance transaction privacy, they represent less than 1% of the total volume. Furthermore, their usage has remained relatively stable over the past five years.
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