US Homeland Security Looks into Investigating Blockchain and Cryptocurrencies

US Homeland Security Looks into Investigating Blockchain and Cryptocurrencies

According to a notice circulated on 30 November, the US Department of Homeland Security (DHS) is searching for information that could help in breaking down and analyzing blockchains and privacy-centric coins

Blockchain forensic analytics for homeland security enterprise can help the DHS law enforcement and security operations across all components… Private financial institutions can likewise benefit from such capabilities in enforcing ‘know your customer’ and anti-money laundering compliance.

US Department of Homeland Security

Parties who will respond to the pre-solicitation notice are to give remarks on the technology and build solutions that will assist in the forensic analysis of cryptocurrencies. The solutions should equip the investigators for the task of scrutinizing blockchain transactions.

The period for the pre-solicitation will run until 18 December. The final solicitation is expected the following day, 19 November.

Analytics for Privacy Coins

Tracing blockchain transactions that are illicit in nature is what compelled the DHS to seek solutions. The department is looking for programs that can dissect privacy-heavy coins such as Monero and Zcash. Being able to upgrade the program to keep up with the technology’s evolution is one of the features the department is seeking.

Last November, the US Defense Advanced Research Projects Agency (DARPA) held a workshop centered on blockchain.

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