The head of the US Internal Revenue Service (IRS) criminal investigations department has left his position to join the analytics company Chainalysis as a cryptocurrency crime fighter.

Previously, Jim Lee not only worked for the IRS for about 26 years, but also, the company team admits, has already collaborated with Chainalysis, helping to simplify the process of confiscating cryptocurrencies used for illegal purposes. In December 2023, Lee stated that digital assets are often used by terrorists and ransomware hackers, but acknowledged that most people use cryptocurrencies for legitimate purposes.

The company has frequently interacted with US authorities on criminal cases related to cryptocurrencies, including investigating ransomware hacks during the pandemic and tracking transactions for tax reporting. Jim Lee said that he will focus on helping develop solutions against cryptocurrency crimes.

“Cryptocurrencies have increased financial transparency, but we are still in the early stages. I believe that over time, with the help of crypto assets, people will have more control over their money, including people who do not have access to banking. However, criminals of all stripes are also quickly mastering cryptocurrencies. It's time to move on,” explained the former IRS employee.

Earlier, Democratic Senator Elizabeth Warren from Massachusetts expressed concern about officials who began working in the cryptocurrency industry after leaving government. To this, the human rights group Blockchain Association responded: officials are attracted to work in a developing industry because they value freedom and innovation.