Jim Lee, a 29-year veteran of the United States government, including three years as chief of the IRS Criminal Investigations team, has transitioned to a role at cryptocurrency analytics firm Chainalysis.
In an announcement on April 8, Chainalysis revealed that Lee had joined the company as its global head of capacity building. In this role, he aims to assist international agencies in developing solutions to combat cryptocurrency-based crime.
During his tenure at the IRS, Lee collaborated with Chainalysis to facilitate the seizure of cryptocurrency involved in illicit activities. He emphasized the importance of addressing the risks of digital assets in financing terrorism and ransomware attacks, while acknowledging their legitimate uses.
Lee expressed his belief in the potential of cryptocurrency technology to enhance financial transparency and inclusion globally. However, he also highlighted the rapid adoption of crypto by criminals.
Lee’s decision to join Chainalysis was influenced by the company’s leadership in making cryptocurrency safer. Chainalysis has collaborated with U.S. authorities in various criminal cases involving cryptocurrencies.
Lee announced his retirement from the IRS Criminal Investigations team, with Guy Ficco succeeding him as of April 1. The IRS did not respond to requests for comment on Lee’s departure.
Lee’s move to Chainalysis comes amidst concerns from lawmakers, such as Senator Elizabeth Warren, about government officials transitioning to roles in the crypto industry after leaving public service. Senator Warren has suggested that some officials may use their positions to pave the way for future opportunities in the private sector involving cryptocurrencies.
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