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Internal Revenue Service Sets A Deal with Coinbase For Its Tracing Software
Summary: Information on the governmental official website sam.gov database suggests that a deal between U.S. Internal Revenue Service (IRS) and Coinbase was settled on July 15. The deal, which starts on July 23, allows IRS to use Coinbase Analytics blockchain tracing software with a yearly payment of $124,950.00. According to its public announcement in April, IRS ...
Information on the governmental official website sam.gov database suggests that a deal between U.S. Internal Revenue Service (IRS) and Coinbase was settled on July 15.
The deal, which starts on July 23, allows IRS to use Coinbase Analytics blockchain tracing software with a yearly payment of $124,950.00. According to its public announcement in April, IRS intends to use the Coinbase Analytics blockchain to track and trace criminals’ crypto exchange activities.
“Coinbase also provides some enhanced law enforcement sensitive capabilities that are not currently found in other tools on the market”, IRS remarks. Relevant records are yet to be added on USAspending.gov, meaning the contract hasn’t been completed.
By Lily Yang
Tags: Coinbase,IRS,Regulation
Link: Internal Revenue Service Sets A Deal with Coinbase For Its Tracing Software [Copy]
