United States Department of Homeland Security To Monitor Monero Transactions
The United States Department of Homeland Security has announced that it is nursing the idea of developing a monitoring framework to effectively track Zcash and Monero transactions through enhanced forensic analytics capabilities.
The DHS in a new document revealed that it aims to achieve this by designing “a product to support the implementation of block chain based forensics, data analysis, and information sharing.”
The agency’s Small Business Innovation Research (SBIR) FY19 Pre-Solicitation document released on November 30th has been made available to interested parties, giving them an opportunity to comment or request information about selected topic areas.
As per the archive, blockchain observing structures designed for Zcash and Monero are of unique enthusiasm to the DHS on the grounds that its current Bitcoin-centered investigation abilities “cover just a constrained degree inside the domain of cryptographic forms of money.” The venture into the security digital money region is planned to keep pace with more up to date blockchain executions and exhibit that the DHS has adequate extensibility to manage the risk presented by unlawful shrouded exchanges.
An excerpt from the document reads:
“A key feature underlying these newer blockchain platforms that is frequently emphasized is the capability for anonymity and privacy protection. While these features are desirable, there is similarly a compelling interest in tracing and understanding transactions and actions on the blockchain of an illegal nature. To that end, this proposal calls for solutions that enable law enforcement investigations to perform forensic analysis on blockchain transactions.”