US Government Interested in Tracking Privacy Coins, New Document Shows

The U.S. Division of Place of birth Safety (DHS) desires to grasp if monitoring transactions performed the usage of privateness cash is possible.

A brand new pre-solicitation report revealed by way of the DHS Small Industry Innovation Analysis Program discusses the usage of cryptocurrencies comparable to bitcoin for transactions. Whilst the report notes that there are each industrial and executive makes use of for crypto, the subject in particular specializes in discovering a solution to behavior forensic research on privacy-focused cash if they’re used for illegal activity.

Within the report, DHS highlights that platforms comparable to zcash and monero emphasize privateness and anonymity as key options, making it tricky to resolve the place a transaction originates or how a lot is distributed.

“Whilst those options are fascinating, there’s in a similar way a compelling hobby in tracing and figuring out transactions and movements at the blockchain of an unlawful nature,” it reads.

From the report:

“This proposal requires answers that permit legislation enforcement investigations to accomplish forensic research on blockchain transactions. This research can also be approached in any collection of tactics and would possibly imagine other information scenario use circumstances relying on whether or not further information from off-chain assets are to be had.”

Whilst the report cites zcash and monero as two examples of privacy-focused cryptocurrencies, it additionally notes that new platforms can also be evolved with identical options. As such, any proposed resolution must both be appropriate extra in most cases or “supply running approaches to treating more recent blockchain implementations.”

The record outlines 3 levels one of these proposal would apply.

The report notes that it’s neither a solicitation nor a Request for Proposals, that means the company isn’t searching for explicit answers right now. Quite, events can touch subject authors till Dec. 18 to both supply a remark or ask technical questions. The true solicitation is predicted to be launched round Dec. 19.

DHS didn’t instantly reply to a request for remark.

Learn the overall report beneath:

FY 19 SBIR Pre-Solicitation… by way of on Scribd

Division of Place of birth Safety symbol by means of g0d4ather / Shutterstock

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