Decrypt reported that Kenya's financial authorities are pushing to introduce a blockchain analysis tool to monitor illegal activities related to cryptocurrencies. The blockchain analysis platform, which the Capital Markets Authority (CMA) of Kenya is currently promoting for monitoring its domestic cryptocurrency market, will be used to track at least 20 or more blockchains, including Bitcoin (BTC) and Ethereum (ETH), and to detect fraud, money laundering, terrorist financing, and sanctions evasion. Furthermore, the platform will automatically detect high-risk wallets, large fund movements, coin mixers, darknet-linked addresses, and sanctioned entities, and plans to identify risky transactions by cross-referencing them with the sanctions lists of the United Nations (UN) and the US Treasury Department's Office of Foreign Assets Control (OFAC).
