US Army Requests Information on Tools to Track Cryptocurrency Transactions | News – Bitcoin News

The U.S. Department of Defense and the U.S. Army have requested information on web-based cryptocurrency tracking tools. The tools must enable U.S. government agencies worldwide to conduct in-depth investigations into the source of crypto transactions and provide multi-currency analysis from bitcoin to other top cryptocurrencies.

The U.S. Department of Defense and the U.S. Army have posted a request for information (RFI) entitled cryptocurrency investigative web-based application. The request was published on the U.S. governments website on July 10.

All information submitted in response to this announcement is voluntary, the notice states, adding that The U.S. Army Contracting Command-New Jersey (CC-NJ) located at Fort Dix, NJ is surveying the market for potential contractors capable of providing one license for one user of a cloud, web based application capable of assisting law enforcement to identify and stop actors who are using cryptocurrencies for illicit activity such as fraud, extortion, and money laundering.

The requests accompanying Statement of Work (SOW) describes that the contractor must provide access to a reliable cryptocurrency investigation service, also referred to as a Software-as-a-Service (SaaS) solution required for use in criminal investigations and the other missions conducted by the US Army Criminal Investigation Command (USACIDC). The USACIDC is the premier Military Criminal Investigative Organization within the Department of Defense, responsible for conducting worldwide criminal investigations wherever there is a U.S. Army interest. The notice elaborates:

Application must enables users to conduct in-depth investigation into the source of cryptocurrency transactions and provides multi-currency analysis from bitcoin to other top cryptocurrencies.

The USACIDCs Major Cybercrime Unit in Quantico, VA, will administer the service but users can be located anywhere in the U.S. and overseas. Intended users include those in 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, without hardware or software to install. It must meet the SOW requirements, including providing real-time bitcoin and other cryptocurrency transaction tracing and be able to spot transaction patterns and interactions with other entities. The contract will be for one year with the option to extend four more years. Responses to the information request must be made by July 20.

The Department of Defenses request came after the U.S. Department of Homeland Security and the Secret Service awarded a contract for blockchain analytics software to Coinbase, as news.Bitcoin.com reported.

What do you think about the U.S. Army looking for crypto tracking tools? Let us know in the comments section below.

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US Army Requests Information on Tools to Track Cryptocurrency Transactions | News - Bitcoin News