Chainalysis, the blockchain analytics firm whose tools have helped freeze or recover over $34.3 billion in illicit funds, just told the FDIC what “good enough” should look like for crypto tracing technology.
In a comment letter submitted to the Federal Deposit Insurance Corporation on May 15, the firm laid out proposed minimum benchmarks for blockchain analytics tools used by banks and payment stablecoin issuers. The recommendations cover clustering accuracy, entity and chain coverage, data update frequency, and independent verification, essentially a quality scorecard for the software that financial institutions rely on to separate legitimate transactions from suspicious ones.
What Chainalysis is actually proposing
Chainalysis is pushing for methodology transparency, meaning analytics providers would need to show their work rather than just deliver results.
The firm backs up its pitch with some specific numbers. Its clustering tools reportedly achieve true positive rates up to 94.85% with false positive rates below 0.15%. In US federal court proceedings, peer-reviewed research has demonstrated a false positive rate of approximately 0.01% for Chainalysis data.
