UK Wants to Track Multibillion Crypto Economy with $130K Cost Tool
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Jan. 20, 2020
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The UK has registred a public contract for a $130,000 cost tool to track cryptocurrencies like bitcoin (EXANTE: Bitcoin), ethereum (ETH) and Monero (XMR).

The officing filing states that the tool should support the intelligence-gathering methods to identify and cluster crypto transactions into linked transactions and identify those linked to cryptoasset service providers.

US Government Wants to Track Privacy Coins

The new tool should also have the ability to track the following cryptocurrencies:

  • Bitcoin
  • Bitcoin Cash
  • Etherium
  • Etherium Classic
  • Ripple
  • Tether
  • Litecoin
  • Monero
  • Zcash
  • Dash

The buyer of the tool is HM Revenue & Customs (HMRC), one of the largest organizations in the U.K., with approximately 60,000 full-time equivalent staff.

The contract end date is set on 16 February 2021.

Earlier iHodl reported that during a hearing on Wednesday for the U.S. House Financial Services Committee, experts highlighted that bitcoin as unregulated cryptocurrency is actively used by domestic terrorist groups, e.g. white supremacists.

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