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Chainalysis Blockchain Data Platform to Integrate Lightning Network

Chainalysis clients will be able to allow BTC deposits and withdrawals on the Lightning Network while complying with regulations.

By Eliza Gkritsi
Updated May 11, 2023, 4:03 p.m. Published Dec 10, 2021, 12:00 p.m.
(Johanes Plenio/Unsplash)
(Johanes Plenio/Unsplash)

Crypto tracking and compliance firm Chainalysis is adding support for Bitcoin’s Lightning Network, according to a press release shared with CoinDesk.

  • Users of Chainalysis’ “Know Your Transaction” platform will be able to prescreen for Lightning withdrawals and behavioral alerts so they can be compliant in allowing BTC deposits and withdrawals from Lightning nodes, the statement said.
  • The Lightning Network is a layer 2 blockchain that enables faster bitcoin transactions so people can use the world’s largest cryptocurrency by market capitalization for small payments like tips and remittances.

Read more: An In-Depth Look Into the Lightning Network as a Bitcoin Scaling Solution

Lightning NetworkBitcoin NewsChainalysis

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