In the next five years, government prosecutors and tax agencies are expected to utilize artificial intelligence to analyze blockchain data for crime detection, according to Chainalysis CEO Michael Gronager.
Speaking at the Token2049 conference in Singapore, he highlighted that AI could enhance the efficiency of investigations by streamlining efforts among various agencies.
Gronager noted that while these AI tools may help identify tax evaders, individuals who conducted standard crypto transactions years ago might escape scrutiny due to a lack of awareness about tax obligations.
He pointed out that as legal guidance and tax software improve, such excuses will become less acceptable. The IRS is already using AI to track potential non-compliance.
He also mentioned that privacy coins like Monero present tracking challenges, though they currently make up less than 1% of crypto transactions.
A Chainalysis report from July indicated that nearly $100 billion has moved from known illicit wallets to exchanges since 2019.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.