The US government is considering using forensic analysis techniques to track transactions involving the cryptocurrencies Zcash (ZEC) and Monero (XMR). This is according to the Small Business Innovation Research (SBIR) Program published by the US Department of Homeland Security.
This development could have a huge impact on sensitive digital currencies.
“The program involves developing solutions that allow law enforcement agencies to analyze blockchain transactions to prevent cryptocurrency crimes,” the document says.
SBIR proposes a three-phase approach to conducting forensic analysis.
The first stage involves developing a blockchain analysis engine that “would allow law enforcement agencies to verify and monitor cryptocurrency transactions.”
The second stage is related to testing. The tools developed in the first stage will be used for testing. The results will then be shared with interested authorities with instructions on how to use them.
Finally, in the third stage, these analysis methods will be integrated into government structures. Law enforcement agencies will then be able to monitor transactions involving anonymous digital currencies.
While the document does not involve any proposals from the companies themselves, they are encouraged to ask questions regarding this initiative. The deadline for developing tools is December 18, 2018. Therefore, we can expect the emergence of new tracking methods in the 1st quarter of 2019.
You May Also Like
Google has removed popular crypto wallets from the platform
Google has removed at least several major cryptocurrency wallets from its Play Store overnight. Although the reason for this decision is not yet clear, Bitcoin.com CEO Roger Ver has already criticized Google's new cryptocurrency policy.
Maff Metaverse - Hackathon on metaverses
On November 26-28, the first hackathon on metaverses in Russia will be held. Metaverses are created at the intersection of software, VR and AR equipment, data centers and blockchain.
