Chainalysis’ “2024 State of Cryptocurrency Investigations Report” reveals a significant increase in crypto-related crimes in the Asia-Pacific (APAC) region. This surge in illicit activities is exacerbated by a lack of legal resources, hindering the region’s ability to effectively combat crypto crime.
Hayato Shigekawa, principal solutions architect at Chainalysis, highlighted the challenges faced by law enforcement agencies in APAC in addressing crypto-related crimes such as drug trafficking, cybercrime, and intellectual property crime. Despite the growing importance of crypto crime investigations, many agencies expressed dissatisfaction with the available legal resources.
Survey respondents in the APAC region showed a negative perception of cryptocurrencies compared to other regions. This stark contrast in outlook underscores the pressing need for improved education on the intricacies of cryptocurrencies in the region.
To address these issues, the report emphasizes the need for better training and educational resources. With a significant portion of respondents admitting a lack of knowledge about cryptocurrencies, there is a clear need for increased access to technical and educational resources.
In addition to technical resources, Shigekawa stressed the importance of enhancing educational initiatives to improve understanding of cryptocurrencies in the APAC region. The report also highlights the need for increased access to educational materials, as a significant number of respondents admitted to being unfamiliar with the asset class.
Overall, the report underscores the urgency of addressing the rise in crypto-related crimes in the APAC region through enhanced legal resources and educational initiatives.