IRS spends $250,000 on crypto-tracking tool

The Internal Revenue Service’s Criminal Investigation division signed a contract worth $249,900 with the little-known analytics firm Blockchain Analytics and Tax Software, writes Cointelegraph.

The collaboration will enable the agency to expand its tools for tracking cryptocurrency transactions.

Earlier in July, the IRS launched a pilot program to seek tools for tracking various types of cryptocurrency transactions. The new contract does not respond to that request.

The agency also expressed interest in purchasing blockchain-analytics software developed by Coinbase.

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