IRS is expanding and invests into the sphere of crypto transactions tracking

Recently, the IRS’s criminal investigation department has concluded a $249,900 contract with a blockchain analytics company dealing with crypto transactions monitoring tools .

There is not much information about the contract but the only thing known for sure that the aforementioned contract

The company making part of the contract, Blockchain Analytics and Tax Software, is rather young in comparison to such giants like Chainalysis. The company’s single contract government contract was for only $9,800 with the U.S. Treasury for acting as an expert witness.

Just last week the IRS issued a request for submissions for a pilot program to monitoring cryptocurrency transactions.

Blockchain Analytics and Tax Software did not comment this situation in any way

IRS investigative capabilities played a significant role in a massive tracking of crypto bound for terrorist networks last month.

Meanwhile, for more civilian purposes, this year’s tax forms in the U.S. will include the question if a taxpayer used crypto in 2020.

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