Kenya to adopt blockchain analysis tool for crypto crime crackdown

Kenyan financial authorities are moving to introduce a blockchain analysis tool to monitor illicit activities involving cryptocurrencies, Decrypt reported. Kenya's Capital Markets Authority (CMA) is seeking to implement a platform that can track at least 20 blockchains, including Bitcoin (BTC) and Ethereum (ETH), to detect fraud, money laundering, terror financing, and sanctions evasion. The platform will also automatically detect high-risk wallets, large fund movements, coin mixers, darknet-linked addresses, and sanctioned entities. It plans to identify risky transactions by cross-referencing them with sanctions lists from the United Nations (UN) and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).