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The US Department of Defense and the US Army have requested information on web-based cryptocurrency tracking tools. The tools must allow U.S. government agencies around the world to conduct in-depth investigations into the source of crypto transactions and provide multi-currency analysis from bitcoin to other major cryptocurrencies.
The US government wants to monitor cryptographic transactions
The US Department of Defense and the US Army have released a Request for Information (RFI) titled “Cryptocurrency Investigative Web Application”. The request was posted on the US government website on July 10.
“All information submitted in response to this announcement is voluntary,” the notice states, adding that “The US Army Contractual Command-New Jersey (CC-NJ) based in Fort Dix, NJ is investigating the market for potential contractors who can license it for a user of a web-based cloud application that can help law enforcement identify and stop actors using cryptocurrencies for illegal activities such as fraud, extortion and money laundering. “
The Statement of Work (SOW) accompanying the request describes that the contractor must provide “access to a reliable cryptocurrency investigation service, also referred to as the Software-as-a-Service (SaaS) solution required for use. in criminal investigations and other missions conducted by the US Army Criminal Investigation Command (USACIDC). “The USACIDC is the leading military criminal investigative organization within the Department of Defense, responsible for conducting criminal investigations worldwide wherever there is an interest of the US military. The call elaborates:
The application must allow users to conduct a thorough investigation into the source of cryptocurrency transactions and provide multi-currency analysis from bitcoin to other major cryptocurrencies.
USACIDC’s Major Cybercrime Unit in Quantico, VA will administer the service, but users can be located anywhere in the United States and overseas. Intended users include those of the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA), the Securities and Exchange Commission (SEC), the Transportation Security Administration (TSA), the US Immigration and Customs Enforcement (ICE) and the ‘Internal Revenue Service (IRS).
The service must be a tested product, with no hardware or software to install. It must meet SOW requirements, including providing “real-time transaction tracking of bitcoin and other cryptocurrencies” and “be able to identify transaction patterns and interactions with other entities.” The contract will last for one year with the possibility of extending another four years. Responses to the request for information must be provided by 20 July.
The Defense Department’s request came after the Department of Homeland Security and the U.S. Secret Service awarded Coinbase a contract for the blockchain analytics software, news.Bitcoin.com reported.
What do you think of the US military looking for cryptographic monitoring tools? Let us know in the comments section below.
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