US Law Enforcement Have Spent Hundreds of Thousands on Bitcoin Tracking Tools

US law enforcement agencies have spent hundreds of thousands on Bitcoin tracking tools

  • Presumably to deal with that issue, several US law enforcement agencies, including the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA), and Immigration and Customs Enforcement (ICE) have all paid for software from bitcoin tracking company Chainalysis according to public records, with one purchase order being signed just this month.
  • In short, Chainalysis’ platform allows a user a bird’s-eye view of the blockchain, including transactions between specific bitcoin exchanges, such as Bitstamp, and other entities, including dark web marketplaces.
  • Since August 2015, the FBI has spent over $330,000 on Chainalysis products, according to procurement records.
  • “This subscription via Chainalysis allows users to navigate the public Bitcoin transaction hedger, tracing transactions across addresses, the Bitcoin equivalent of account numbers,” a note included with one of the FBI’s procurement records reads.
  • Judging by another record, the technology is used by the FBI’s Criminal Investigative Division, and a third says the FBI has “successfully utilized” Chainalysis’ tool.

Private firms continue to fill in the gaps for digital investigators.
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PwC And Bitt Partner Up To Improve Bitcoin and Blockchain Presence In The Caribbean ⋆ Epeak . Independent news and blogs

  • This includes advice related to advancements of Bitt services, including the use of bitcoin and other digital currencies.
  • Moreover, the Caribbean has been introduced to convenient bitcoin wallet services.
  • PwC Partner Oliver Jordan commented on this MOU as follows:

    “We have agreed to work alongside Bitt on future institutional blockchain technology implementations by, for example, central banks, commercial banks and government institutions throughout the region because not only does blockchain offer the promise of cost reduction and efficiency, but it could also enable revenue growth, and higher-quality service.

  • Across the PwC Global network, we have already seen enormous potential for blockchain to deliver substantial value to financial services – and we intend to continue to lead the way across the financial services landscape in the Caribbean.”
  • Additionally, there is tremendous potential for blockchain technology in the financial services industry.

The future of bitcoin is looking bright in Barbados right now. Bitt, a local fintech company, signed a memorandum of understanding with PwC. As a result, b
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