Chainalysis CEO Jonathan Levin believes that blockchain technology can benefit the United States if regulators embrace its transparency, speed, and programmability.
Levin highlighted the importance of a policy framework acknowledging blockchain's unique financial oversight model and the need for public information as the basis for overseeing the system.
He emphasized that blockchain enhances the ability to combat illicit activities by swiftly tracking money flow, freezing assets, and seizing them, as illustrated by a case involving collaboration between crypto exchange OKX, stablecoin issuer Tether, and the United States Secret Service.
Levin's remarks were part of a Senate Banking Committee hearing focused on blockchain technology and digital assets, aiming to establish a framework providing clarity for innovators and protections for investors.