BlockBeats News, June 30th - Blockchain analysis company Chainalysis released a Blockchain Tracing Ontology proposal, attempting to establish an industry standard for on-chain address clustering and tracking. The document breaks down "clusters" into finer "wallet fragments" and proposes a two-layer framework: the first layer to build an address relationship graph and the second layer to annotate analysis trustworthiness, aiding law enforcement and prosecution agencies in assessing whether the data can be used in cases.

Building on its practical experience in the United States Department of Justice's money laundering case against Bitcoin Fog's co-founder Roman Sterlingov, where the judge deemed its Reactor tool "highly reliable" after a Daubert hearing, Chainalysis highlights that solely relying on on-chain analysis cannot directly identify end-user identities. It requires offline information such as court subpoenas and calls on the industry to keep the methodology subject to independent review and feedback.