• Sat, 25 May 2019, 02:59 PM
  • All times are UTC
  • Edition:
Link copied

Japan’s National Police Agency plans to roll out crypto transaction tracking software next year

Wed, 05 Sep 2018, 09:15 am UTC

Japan’s National Police Agency (NPA) is going to develop software for tracking cryptocurrency transactions in the wake of rising crimes related to cryptocurrencies, ETH News reported referring to a report from local outlet NHK.

The agency is reportedly adding around 35 million yen (or around $315,000) to its 2019 fiscal budget, which will be used to fund the project. It will outsource the project development to the private sector.

The NPA plans to introduce the software to the police next year. The software will only extract the necessary transaction information, which the agency can then visualize and use to track the transaction flow.

The software will also display the information of the exchange operator used in the transaction. Bitcoin.com quoted a local media outlet in this regard saying:

“The service target is limited to major currencies such as bitcoin (BTC) and ethereum (ETH), and it is expected to be available for use by the National Police Agency, the Tokyo Metropolitan Police Department and the Osaka Prefectural Police Department next fiscal year.”

The report comes amid recent media reports that the country’s financial watchdog, the Financial Services Agency (FSA) has introduced a stricter screening process for companies seeking to become registered cryptocurrency exchanges.

Recent reports also suggested that Russian financial regulator, Rosfinmonitoring, is also planning to use software to track crypto transactions.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,052.38 (+0.19%)
  • Ethereum (ETH) $252.00 (-0.08%)
  • XRP (XRP) $0.387600 (-0.34%)
  • Bitcoin Cash (BCH) $407.97 (-1.95%)
  • Litecoin (LTC) $101.44 (+2.46%)
  • Bitcoin (BTC) $8,052.38 (+0.19%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.