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 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.