Swedish Police to Seek EU Funds for Cryptocurrency Research – CoinDesk

National police forces in Europe are seeking new cash forresearch onhow to tacklecybercrimes involving cryptocurrencies.

According to an evaluation report released late last month, the Swedish Police Authority and its counterparts in Austria and Germany arepreparing to bid for fundingfrom a program called Horizon 2020, aEuropean Union research initiative.

Specifically, the funds would be sourced from Secure Societies, a sub-section of that program focused on cybercrime initiatives. Through Horizon 2020, which was launchedin 2014, the EU has made a total of80 billion ($94.6 billion) available to cover a wide range of research areas.

Settingout the law enforcement agencies' plans, the report states:

"At present, the Swedish Police are participating in a consortium with the [Federal Police Force]in Austria and its counterpart in Germany to prepare a bid for Secure Societies on virtual currencies and the Darknet."

While the report didn't reveal the amountsto be solicited bythe three police agencies, it highlights the Internal Security Fund (ISF) a European Commission funding pool with a total of3.8 billionallocated for member countries' police forces overthe seven years until2020.

The basic allocation for Sweden under this fund currently is 21 million, according to the ISF.

Swedish police car image viaRoland Magnusson/Shutterstock

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Swedish Police to Seek EU Funds for Cryptocurrency Research - CoinDesk