The United States government is looking for tools that allow it to track movements of funds with cryptocurrencies focused on privacy or second-tier solutions, such as Bitcoin's Lightning network.
Through the Internal Revenue Service (IRS, for its initials), authorities of the North American country publicly issued a request for information on this type of tool. All part of the pilot of his cryptocurrency tracking program.
This request, issued on June 30, states that this program is launched by the Criminal Investigations Division. The objective is to facilitate investigative operations that involve the use of privacy cryptocurrencies, side chains and transactions in second-layer protocols. They emphasize the Lightning Network, ensuring that it has a "significant number" of users and is in full growth.
The institution also aims at the implementation of Schnorr firms. Although in its presentation, the institution recognizes that this implementation brings "multiple benefits for users", it considers that, on the other hand, "it inhibits the effectiveness of certain traditional tracking grouping algorithms".
private cryptocurrency tracking
The IRS statement sets out several objectives for the investigation. Of these, the ability to associate addresses of users "suspected or known to be involved in harmful activities" stands out. The IRS also seeks to create "an address library" that emerges from that investigation.
Then, on Wednesday, July 1, Elliptic announced for its part that it would track the transactions in Zcash. The IRS could then have found its first alliances in the quest to control the movements of funds in private cryptocurrencies. But its intention is to cover more, as stated in your request for information.
In short, they do not know how to get a slice of the subject, and they do the impossible to control them.
But honestly everyone is going to eat shit
Posted Using LeoFinance