Japanese Police to Crack Down on Crypto Crime By Monitoring Cryptocurrency Transactions With Specific Software

Japan is taking a tougher stance on crypto-related crimes by reportedly working on specific software that would allow the Police to monitor all crypto transactions

Fri, 31/08/2018 - 10:20

Japanese Police to Crack Down on Crypto Crime By Monitoring Cryptocurrency Transactions With Specific Software

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Japan is taking a tougher stance on crypto-related crimes by reportedly working on specific software that would allow the National Police Agency (NPA) to effectively monitor all cryptocurrency transactions in the country.

The new NPA budget will allocate around $316,000 in order to implement this initiative. As of now, it is known that a private developer will be behind the project, but its name hasn’t been revealed yet. The new software will be able to gather all transaction data and pinpoint exchanges where these transactions took place. It will already be utilized by the Japanese authorities in 2019.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.