US Army also wants to Trace Cryptocurrency after the Secret Service Purchased Access to Coinbase’s Analytics
The federal departments of the United States are getting serious about tracing of cryptocurrency. This time, the US Army needs web-based crypto tracking tools to trace transactions of Bitcoin and other coins.
Cryptocurrency Investigative Web-based Application
On the official website of the US government, the Department of Defense and the US Army have asked publicly for “cryptocurrency investigative web-based application.”
The information notice reads:
“The U.S. Army Contracting Command-New Jersey (CC-NJ) located at Fort Dix, NJ is surveying the market for potential contractors capable of providing one license for one user of a cloud, web based application capable of assisting law enforcement to identify and stop actors who are using cryptocurrencies for illicit activity such as fraud, extortion, and money laundering.”
The US Army Criminal Investigation Command (USACIDC) within the Department of Defense, specialized for criminal investigation worldwide, will make use of the crypto tracing application.
“Application must enables users to conduct in-depth investigation into the source of cryptocurrency transactions and provides multi-currency analysis from bitcoin to other top cryptocurrencies.”
Based in Quantico, the major unit of USACIDC will monitor the web-based tool but its users can belong to various departments such as the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS), the Federal Bureau of Investigation (FBI), the US Immigration and Customs Enforcement (ICE), the Drug Enforcement Administration (DEA), and the Transportation Security Administration (TSA).
US Army needs Tested Application
US Army does not ask to create a new software but prefers to use the tested application, which satisfies SOW requirements. The contract between the US federal agency and application provider will long for over one year but there is an option to extend up to four years. The last date to submit responses is set on July 20.
Over recent days, the news regarding Coinbase circulated over the internet which states that Coinbase’s analytical tools have been used by the US Secret Service. To respond to criticism by the crypto community, Coinbase CEO Brian Armstrong said:
“Have seen a few articles talking about Coinbase Analytics – figured I would share my thoughts on it, since I don’t think it’s particularly newsworthy – and lots of conjecture out there.”
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