The US Internal Revenue Service has already used Bitcoin tracking software in 2015

nnnStorm Chain Review: Block Chain Analysis and Bitcoan Compliance Tool Development Entrepreneurship Chainalysis software can track encrypted currency transactions to determine that Taisha, Bitcoin, etc. are not used for illegal purposes. In fact, since the beginning of 2015, the IRS has already started using the company’s software and has signed a valid contract with the company. At the same time the IRS and the exchange start-up company Coinbase litigation on user information is not conclusive, but the IRS requirements have been included in the exchange, including some of the opposition.n
nnTranslation: Annie_Xun
nAn up-to-date media report shows that the IRS, Internal Revenue Service utilizes the bitmember transaction tracking tool developed by the start-up company Chainalysis.n
nWashington’s The Daily Beast document shows that IRS has been using the company’s software since 2015.n
nAdditional data from the General Services Administration, which manages US logistics, said IRS and Chainalysis have signed a valid contract that will take effect in early September. So far, IRS has paid more than $ 88,000 to Chainalysis.n
nIRS said the use of relevant software “through the bit currency economic tracking funds flow”, and further explained:n
nn”It can be used to discover personal use of Bitcoin or Money to Money Money, or to conceal actual income, to conduct tax fraud or other federal offenses, and to collect evidence”.n
nnWhile US officials are not secret about further regulation of monetary activity, and a group of influential senators at the end of May are trying to do so, the IRS contract is important because the agency is investigating potential tax evaders and prosecuting the exchange Entrepreneurship Coinbase.n
nPreviously, CoinDesk reported that IRS wanted to get Coinbase customers for years of data.n
nThe start-up company has refuted IRS in federal courts and eventually forced the tax agency to narrow its access to information. In recent days, organizations such as the Competitive Enterprise Institute and the Washington Nonprofit Organization Coin Center have begun to oppose the contents of subsequent documents.n

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